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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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Thursday, 23 December 10
SOUTHGOBI RESOURCES CLOSES STRATEGIC INVESTMENT IN ASPIRE MINING LIMITED
Press Release – SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878), announced today that it has completed the private placement with Aspire Mining ...
Thursday, 23 December 10
CESC EYES COAL MINES IN INDONESIA, S AFRICA - TEHELKA
Company has already set a target of adding 6,000 MW power generation by the end of the 12th Plan in 2017
Tehelka reported that, CESC Ltd, the fla ...
Thursday, 23 December 10
SANTA CLAUSE DID NOT COME EARLY THIS YEAR - FEARNBULK
Handy
Not much fresh enquiry this week and quite dead in Bl.Sea/Med. Nevertheless ...
Thursday, 23 December 10
STERLITE ENERGY LIMITED TO BUY 0.6 MLN MT OF COAL FOR 2011
COALspot.com - Sterlite Energy Limited (SEL) is a part of Vedanta Resources plc , a London listed FTSE 100 diversified metals and mining major with ...
Wednesday, 22 December 10
PEABODY ENERGY TO SOURCE INDONESIAN COAL FROM PT SUPRA BARA ENERGI (SBE) - COAL GEOLOGY
Coal Geology reported that, Peabody Energy has entered into an agreement to source coal from PT Supra Bara Energi (SBE), which will be sold on the e ...
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- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Australian Coal Association
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- ASAPP Information Group - India
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
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