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Friday, 24 December 10
DRY BULK OWNERS COULD SOON RECONSIDER SCRAPPING OLDER VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 With the dry bulk market close to its lowest levels in months and indeed close to 2010 lows, ship owners could be heading towards scrapyards in a bid to relieve part of the market’s oversupply of vessels. Yesterday, the Baltic Dry Index lost further ground to end the session down by 1.91 percent to 1,795 points, weighed down once again by the ailing capesize segment, which lost an additional 2.5 percent.
As shipbroker Fearnley’s put it in its latest report, “Santa Claus didn’t come early this year”. Commenting on the Capesize market it mentioned that “whilst there has been anticipation in the market that bottom would soon be reached, rates continue to drop. For Australia to China, charterers are now targeting below USD 8 pmt, with last done at very low 8s. Tubarao/Qingdao is slowly approaching USD 20s, although there has been some resistance on this route. All in all the market needs a Christmas break, and hopefully activity will be speeding up early next year. However as it looks right now, expectations remain poor” said the report.
A similar situation is described for the panamax segment. “The Panamax market experienced limited activity and consequently continuous softening of rates in both hemispheres. The FFA´s traded steady arnd USD 16k for Q1, while 1 year TC period in the physical market was pending arnd USD 16-17k. Not many signs for market recovery last days of this year, especially Pacific has an oversupply of tonnage and lack of new orders to back up. Question now if market reached a level where owners and operators start picking tonnage again. Prompt Atlantic rounds fixed at USD 19-20k while the Pacific rounds sub 10k” it said.
As for the smaller ship segments (Handy/Supramax), Fearnley’s said that “not much fresh enquiry this week and quite dead in Bl.Sea/Med. Nevertheless large Supras are achieving USD 21/22k for TA rounds – 2/3 laden legs within the Atlantic which is actually not bad at all. As advised the pre-Xmas rush is keeping the market afloat but a large amount of tonnage is pouring into the Atlantic (ballasters from India etc.) and this should exerce downward pressure on rates by end Dec/1H Jan. USG is quite active on the petcoke side. Outlook: Flat.
The FEast has been under real pressure over the past week. With the holiday season here owners are keen to just get vessels in employment with quick business then see the direction in the new year. Vessels are fixing for Indo rounds in the low 10´s and even hear of a large Supra fixing sub 10k opening N.China for a trip to India. Nopac rounds are also few and far between but paying a tick more. Off WC India tonnage has been somewhat tight and the level seems to be around 15/16k for trips back to China with iron ore” Fearnley’s concluded.
It’s worth noting that a year ago, the BDI was standing at a hefty 3,258 points, up by more than 40% from today’s levels of below the 2,000 point mark. Still, activity in the demolition market is still on the low side, despite the fact that current rates offered by shipbreakers are at spectacular levels since the beginning of the year. Shipbrokers Golden Destiny said that “China is bidding aggressive rates by paying $450/ldt for dry/general cargo and India being close to break the barrier of $500/ldt for wet cargo.
Bangladesh is still not fully reopened but a small movement has been recorded in last days with some vessels being beached in Chittagong, which seems promising for the future of the leader country in the shiprecycling industry. This week closed with 7 vessels reported to have been headed to the scrap yards equalling a total deadweight of 575,804 tons, indicating a 56% w-o-w decline. Tankers remain on the spotlight with positive demolition figures almost per week, whereas demolition activity in the container sector is standing at virtual standstill since the beginning of December. At a similar week in 2009, 16 vessels were reported for scrap equalling a total deadweight of around 343,305 tons while demolition countries were paying $300-$330/ldt for dry/general and $320-$340/ldt for wet cargo” said the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 31 December 10
STC TO FINALIZE 12 MILLION MT OF COAL IMPORT CONTRACT TO TWO INDIAN AND A DUBAI BASED COAL TRADER - SOURCES
COALspot.com - World's single largest coal import tender floated by STC on behalf of state utility NTPC to finalize its suppliers or already finali ...
Thursday, 30 December 10
DRY BULK MARKET STAYS SUBDUED AT THE END OF 2010 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dy bulk market failed to cheer ship owners across the board as the year draws to an end, thus bringing mixed feelings ahead of 2011. On one hand ...
Thursday, 30 December 10
KANGAROO RESOURCES BUYS INDONESIAN COAL COMPANY
Australian-listed Kangaroo Resources Ltd. said Wednesday it will buy 99% of the Pakar thermal coal project in East Kalimantan, for A$277 million thr ...
Wednesday, 29 December 10
WEATHER IMPACTS RIO TINTO COAL AUSTRALIAS QUEENSLAND OPERATIONS
Press Release - As a result of severe monsoonal rain in central and northern Queensland, force majeure has been declared on coal sales contracts fro ...
Monday, 27 December 10
ANALYSIS: CHINA'S COAL PRODUCTION MISMATCHED WITH DOMESTIC DEMAND
As reported by iStock Analyst, China's coal market has been trapped in a strange cycle. Large coal production bases are facing overcapacity, while ...
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- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Eastern Coal Council - USA
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
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