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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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Wednesday, 22 December 10
INDONESIAN COAL LOAD PORT WEATHER CONDITION AND DELAYS
COALspot.com - The several leading shipping agents in Indonesia, said due to rainy season in Indonesia, loading activities in coal loading ports hav ...
Wednesday, 22 December 10
COAL INDIA CLOSE TO BUYING 15% STAKE IN AUSTRALIAN MINE - ECONOMIC TIMES
Economic Times reported that, Coal India (CIL) is close to buying a stake between 10% to 15% in an Australian mine owned by Peabody, a US company.
...
Wednesday, 22 December 10
CAPESIZE FUTURES MARKET RATES ARE EXPECTED TO CONTINUE THEIR DRIFT DOWN IN 2011 - BRS
Nearly two months of weekly declines in the Baltic Capesize Index were finally halted last week with a small 1% increase Friday-to-Friday. The impro ...
Wednesday, 22 December 10
DRY BULK MARKET LOOKING FOR DIRECTION AMID HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market isn’t exhibiting a “festive” behavior, thus cheering ship owners and investors alike. Instead, the industry&rs ...
Tuesday, 21 December 10
CHINA COAL CAP TO BOOST GLOBAL M&A - FINANCIER WORLD WIDE
Financier World Wide reported that, Chinese state-run media has reported that the Central Government intends to cap domestic coal production for fea ...
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- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
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