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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-$340/ldt for wet cargo” said the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 13 December 10
NALCO TO START WORK ON RS 18K CR ($ 4,010,695,091) INDONESIAN PROJECT BY JUNE - MSN
MSN reported that, State-owned NALCO today said it has selected UAE-based RAK Minerals as JV partner for its Rs 18,000 crore (US$ 4,010,695,091 ...
Monday, 13 December 10
DEUTSCHE BANK RAISES COAL FORECASTS ON MARKET SHORTAGE - BLOOMBERG
Deutsche Bank AG raised price forecasts for thermal coal by as much as 17 percent on expectations that a shortage of the fuel will widen over the ne ...
Monday, 13 December 10
K SERA SERA TO SPEND RS325CR TO BUY COAL,OIL & GAS FIRMS STAKE - LIVE MINT
The company might have to dole out around Rs 225 crore (US$ 50,122,522) for picking up the majority stake in the coal mine in Indonesia and around R ...
Thursday, 09 December 10
OVERSUPPLY OF SHIPS BOUND TO KEEP DRY BULK FREIGHT RATES SUBDUED DURING 2011 SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s ...
Thursday, 09 December 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 103.41 PMT FOR DECEMBER DELIVERY
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
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- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
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