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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, 25 November 10
JSW ENERGY BUYS CANADIAN COAL FIRM FOR $411 MN - NDTV PROFIT
NDTV Profit reported that, Sajjan Jindal-owned JSW Energy on Wednesday said it has entered into an agreement to buy out British Virgin Islands-based ...
Thursday, 25 November 10
DRY BULK MARKET STILL GOING STRONG THIS WEEK, CAPESIZE SECTOR LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI) gaining a further 0.64% to e ...
Wednesday, 24 November 10
COAL PRODUCTION PREDICTED TO CLIMB IN SUNNIER 2011 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal producers are expected to increase output by 13 percent in 2011, thanks to predicted better ...
Monday, 22 November 10
RUSSIA'S KTK HAS PRODUCED 4.59 MLN TONNES OF COAL IN FIRST 9 MONTHS OR AN INCREASE OF 5% YEAR-ON-YEAR
COALspot.com (Press Release) - KTK has produced 4.59 mln tonnes of coal in first nine months or an increase of 5% year-on-year.
Kuzbasskaya Topli ...
Sunday, 21 November 10
THE FREIGHT MARKET MAY SLIGHTLY FIRM UP NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market continued its down fall with BDI down by 6.83 pct and closed at 2,155 points.
According to Vistaar Shipping of S ...
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- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
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