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Thursday, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
 Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - the odds are clearly against the drybulk sector absorbing the current newbuilding orderbook. The size of the demand/supply mismatch will determine whether dry bulk shipping shall face a soft or hard landing. We all hope for a soft landing but we are bracing ourselves for a hard landing. Once bitten - twice shy!
In 2008, the BDI had reached 11,793 points on 20th May and it fell to 663 points on December 5th of the same year; the speed and the scale of this short-term "crisis" took the shipping industry by surprise. The recovery in 2009 has been also unexpected but welcome; restoring the confidence of all parties involved. Is what we are experiencing today "deja-vu"?
Some years ago, a charter rate of $18,000 per day for a modern panamax was considered to be very robust. Today, the same vessel is chartered at this level but, for some owners, this is NOT necessarily considered a good rate. In other words, we face the paradox that the current market can be interpreted at the same time good for some and modest or bad for other owners, depending on their investment position.
Although rates are well down from the high levels of recent years, historically they are still relatively good and should be profitable, so the market is not bad, but to those who have not been around for the last 20 years they seem low. We should not forget the fact that between 1985 and 2003, BDI ranged between 600 and 2,200 points....
It would be a shot in the dark to try and guess on where the market is heading. But, if the recent plunge of the Baltic Dry Index continues; it is almost certain that, at some point, vessel prices will be forcibly reduced to a level that will be in direct correlation with freight market conditions. Something similar to what the shipping market experienced at the beginning of 2009 - and who would want to lose out again on such a chance to buy low?
Chartering (Wet: Soft- / Dry: Weaker-)
No improvement was noted in the dry bulk market this week, as rates continued to fall across the board pushing the BDI to a more than 14 month low. The BDI today (13/07/2010) closed at 1,790points, a decrease of 50 points compared to Monday’s (12/07/2010) closure, and a drop of 337 points compared to last Tuesday’s levels ( 06/07/2010). Tankers also faced a second consecutive week of dropping rates as demand from the US and Far East continues to drop.
The BDTI, Monday (12/07/2010), was at 789, 35 points down and the BCTI at 812, a decrease of 6 points from last Monday’s levels (05/06/2010).
Chartering
With almost non existent activity noted in the iron ore trade and demand for coal remaining fairly weak, Capes continue on their downward spiral reaching now a more than 14 month low. The steep decline of the fall noted these past 2 months has severely depressed market sentiment making it hard for owners to fight of any further drop, while the large numbers of newbuilding deliveries entering the water every week provides charterers with more than ample tonnage to push rates down further.
Panamaxes continued to lose ground as activity is still at the low end especially in the North Atlantic. The was some improvement in the ECSA market as fresh cargo orders started to apear. However this seemed to be too little too late, as the number of prompt tonnage in the area provide charterers with the leverage they need to soften freight levels further.
A soft week for Handys as well in both the Pacific and Atlantic basins. The larger Supramaxes and Handymaxes mainly saw activity in ECSA as well as off India were some fresh enquiries started to appear. Smaller handysize vessels looked to perform worse this week as activity in the Black Sea/Cont regions dropped further.
Source: intermodal (by Tasos Papadopoulos)
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Wednesday, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
Wednesday, 21 July 10
FEWER SHIPS SOLD FOR SCRAP IN JUNE, ADDING PRESSURE TO FREIGHT RATES
The easing of vessel tonnage supply should be among the main concerns among ship owners, especially those active in dry bulk shipping. The reason is ...
Wednesday, 21 July 10
BUKIT ASAM SEALS RP900 BIO COAL DEAL
Souce: Insider Stories
Insider Stories reported that, State-Owned coal producer PT Tambang Batubara Bukit Asam Tbk (PTBA) have agreed t ...
Wednesday, 21 July 10
TUAH TURANGGA BUYS ABP US$ 15.9 MIO
Source: Insider Stories
Insider Stories reported that, Komatsu heavy equipment PT United Tractors Tbk (UNTR) through its wh ...
Tuesday, 20 July 10
CHINA'S RELIANCE ON COAL TO DROP 7% BY 2015 - XINHUA NET
Xinhua Net reported that, China's coal consumption is likely to drop to 63 percent of total energy consumption by 2015, down from 70 percent last y ...
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- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
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