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Monday, 25 October 10
DRY BULK MARKET STILL HEAVILY DEPENDENT ON CHINA, POSTS SMALL WEEKLY LOSS OF 1.27% - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 With every twitch and turn from China’s metals industry, the dry bulk market is disproportionally affected, as evidenced by the course of the freight rate this week. According to the industry’s benchmark, the Baltic Dry Index (BDI), the week ended with a small loss of 1.27% at 2727 points, with Friday being the only positive session after five straight losing ones. According to shipbrokers, this week could be a better one, with cold weather in China seen as the major contributing factor to a potential increase of coal demand. Meanwhile, the capesize segment of the market managed to stay ahead of the pack, with Chinese iron ore demand retaining freight rates to very firm levels (weekly gain of 0.64%), while average earnings are now at a healthy $45,657 per day.
According to Arctic Securities, a a drawdown of iron ore inventories in China and high domestic prices were likely to lead to high iron ore imports the fourth quarter. In its weekly report, N.Cotzias Shipping Group mentioned that although this week’s changes were minimal, high volatility is the key of all markets and the constant upswings followed by quick rapid downfalls that are mostly recovered within the month, have caused a greater degree of uncertainty to the market. “Deals are performed but the overall question of most shipping investors is that these shorter term volatility fluctuations don’t really pose investment opportunities based on “proper timing”. How can you time your investments when secondhand prices are considered to be on the “high” side remaining fairly stable and don’t have the time to follow the ups and downs of the freight markets? In any case what can still be considered a blessing is that the dry bulk market daily earnings are well above any critical survival levels and only expensive ships acquired during the Feb 2007 - Jul 2008 period with a greater degree of leverage, can be considered as possible “sufferers” even at today’s rates” the shipbroker said.
In terms of deals, Golden Destiny reported 31 sales in the secondhand and demolition market this past week. The highest activity has been witnessed in the newbuilding market with 25 orders reported in total. In the secondhand market, 20 vessels reported to have changed hands this week equalling a total amount of money invested around of $367,250,000, with only 1 transaction reported on private terms. In terms of reported number of transactions, the S&P activity has been marked with a 35% negative w-o-w change while is standing at same levels of previous year’s weekly S&P activity in terms on number of transactions. The bulkcarrier sector attracted most interest from the investors’ side, with an investment capital of $274,400,000, around 74% share of the total invested capital in the S&P secondhand market.
“In the demolition market, 11 vessels reported to have been headed to the scrap yards of total deadweight just 443,712, with the most of activity being concentrated on India. In terms of reported number of transactions, the Demolition activity has been marked with 57% positive w-o-w change whereas the demolition activity mostly concentrated on smaller size vessels. In terms of scrap rates, the highest scrap rate has been achieved this week in the dry sector by India for two Ro-Ro / passenger vessels at $ 465/ldt.
At a similar week in 2009, just 3 tanker vessels were reported for scrap equalling a total deadweight of around 172,278 tons, two of them headed Bangladesh and one Pakistan, at a price around $320-330/ldt The Greek presence has been noticed this week in the secondhand market with 5 transactions reported, three in the bulkcarrier sector, one in the tanker sector, however the company is US listed and one in the Gas tanker sector, equalling a total amount invested around US$ 140,600,000, while in the newbuilding market just one order for four Post Panamax Containers was reported at private terms.
In the newbuilding market, 25 vessels reported to have been ordered equalling a total deadweight of 2,975,300 tons, while at similar week in 2009 15 orders have been reported, 10 in the bulkcarrier and 5 in the Tanker sector. The total invested capital in the newbuilding business estimated to be around of of US$ 1,019,800,000, while 16 transactions reported on private terms. In terms of reported number of transactions, the newbuilding business has been marked with a 47% positive w-o-w change with Bulk carriers, Tankers and Containers being in the front line. This week the Greek presence was noticed in the Container sector, with an order for 4 8,500teu vessels, contracted at private terms, however the deal is rumoured to have some subjects attached” reported Golden Destiny.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 09 October 10
SAIL SEEKS LONG-TERM COKING COAL SUPPLY FROM GLOBAL COMPANIES - BUSINESS STANDARD
State-owned Steel Authority of India (SAIL) Friday invited bids from global companies for long-term supply of coking coal to feed its expanding stee ...
Friday, 08 October 10
INVESTORS STILL RELUCTANT TO ENTER DOWNSTREAM INDUSTRIES - THE JAKARTA POST
The Jakarta Post reported that, mining companies are showing a low level of enthusiasm to enter the downstream industries, as required by the 2009 M ...
Friday, 08 October 10
VESSEL OWNERS ARE RELUCTANT FOR INDONESIA TO INDIA COAL TRIPS - FEARNBULK
Handy
Last week ended with a flourish of activity as the Chinese tried to fix any prompt vessels before the Golden week festivities, and since the ...
Thursday, 07 October 10
MIRACH ENERGY GAINS RIGHTS TO EAST KALIMANTAN COAL MINE - THE EDGE SINGAPORE
The Edge Singapore reported that, Mirach Energy says it has gained the rights to produce and sell coal in an open-pit coal mine in Samarinda, the ca ...
Tuesday, 05 October 10
EWP SEEKING VIETNAMS ANTHRACITE COAL
COALspot.com: South Korea’s EWP is seeking Min 200,000MT of Vietnam coal with plus or minus 30,000MT at EWP’s (Korea East West Power Co ...
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- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Australian Coal Association
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
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