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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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Friday, 17 September 10
CWP COAL WASHING PLANTS MACHINERY LANDS ON RUSSIAN MARKET!!
Press Release: CWP Coal Washing Plants Machinery Industry & Trade Co. which was founded in 1990, has been operating in Izmir with its closed pro ...
Friday, 17 September 10
FREIGHT RATES TO DECLINE FURTHER - ICICI SEC
Broking firm ICICI Securities said tanker freight rates reported a sharp drop with rates of Suezmax and Aframax carriers declining by 16% to USD 8,6 ...
Friday, 17 September 10
R-POWER, ADANI, GMR TO BID FOR $1-BN MINE
Reliance Power, Adani Power and GMR are in the race for a coal mine asset in Australia. The valuation of the asset is close to $1 billion (Rs 4,600 ...
Thursday, 16 September 10
RPG GROUP BUYS 10% IN AUSSIE COAL FIRM RESOURCE GENERATION
Dealcurry reported that, India's RPG Group's Integrated Coal Mining Limited (ICML) has acquired 10% stake (18,268,053 shares) in Resource Generati ...
Wednesday, 15 September 10
VIETNAM TO IMPORT UP TO 15 MLN TONS COAL/YR BY 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Vietnam will need to import 3 million to 15 million tons of coal a year by 2015, rising to 21 million to 40 million ...
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- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Planning Commission, India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
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