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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, 02 December 10
INDIA'S COAL SHORTAGE TO DEEPEN NEXT YEAR - MONEY CONTROL
Money Control reported that, India's coal deficit will deepen sharply next year, its coal minister said on Tuesday, forcing Asia's third largest e ...
Thursday, 02 December 10
CIL INCHES CLOSER TO PEABODY STAKE DEAL - THE TELEGRAPH INDIA
The Telegraph India reported that, state-run Coal India Ltd (CIL) hopes to complete negotiations to buy over 10 per cent in Australian miner Peabody ...
Thursday, 02 December 10
DRY BULK MARKET WEIGHED DOWN BY CAPESIZE BLUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The negative sentiment currently undergoing in the capesize market has kept the dry bulk market’s benchmark, the Baltic Dry Index (BDI) on the ...
Monday, 29 November 10
NUCLEAR SUPERTANKERS TO SHAKE UP SHIPPING - THIS IS MONEY
This is money reported that, plans are under way that could see nuclear-powered supertankers sailing the world’s shipping lanes, refuelling on ...
Sunday, 28 November 10
FREIGHT MARKET SEEMS TO BE NERVOUS - VISTAAR
COALspot.com - The freight market continued to remain uncertain even though only cape index was down by 8.31 pct.
Overall the market seems to be ...
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- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Australian Coal Association
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- The University of Queensland
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
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