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Wednesday, 05 January 11
DRY BULK MARKET BEGINS NEW YEAR ON SOUR NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Seasonal factors like the worst flooding in Australia’s Queensland in half a century, coupled with thin trade activity has put the dry bulk market on a downward trend, with the industry’s benchmark, the Baltic Dry Index (BDI) beginning the year exactly like it ended. The BDI was down yesterday by 80 points to reach 1,693 points, among the lowest it’s been since 2009.
Wha’t even more disappointing this time around is that the downward pressure made no exceptions whatsoever as to which sectors it will affect. All various ship segments were down yesterday, reflecting a slump of demand across the board, with the most resilient market until now, the Supramax one taking most of the heat.
According to the latest weekly report from Shiptrade Services, the Capesize market has remained subdued, as was expected. “All fixtures intended to be concluded before the end of the month, were covered in the previous week, leaving very little to report this week. The adverse weather conditions in Australia which have created a chaos across many ports and upset coal exports, has also influenced the market negatively. Prices contracted remain on the same levels as last week.
In the Panamax market the same theory applied as activity was also low. The Pacific is still seeing an overcapacity issue which paired with the current limited demand, is keeping the sentiment down. On the contrary the Atlantic is being maintained on healthier levels. Transatlantic trips are still hovering around the low 20s as per last week. The Supramax sector was also quiet this week. No fresh enquiry was recorded in the Mediterranean and Black Sea. The market seems to have adopted a passive approach as most seem eager to see what the next week will bring. Owners in the Far East have been fixing their vessels on levels similar to the previous week where the opportunity arises, but this is very infrequent and they generally prefer to wait until further enquiry enters the market into the New Year, said the shipbroker”.
In a separate report from Bloomberg, Queensland’s floods are expected to further reduce dry bulk rates, as buyers of Australian coal are already cancelling ship charters. According to the story, “Queensland ships about 180 million metric tons of coal a year, or about a fifth of the global total, according to Sverre Bjorn Svenning, an analyst at Fearnley Consultants A/S in Oslo. The dry-bulk fleet grew 17 percent last year, outpacing an 11 percent increase in haulage demand, the research unit of London- based Clarkson Plc, the world’s biggest shipbroker, estimates.
Total seaborne trade in dry-bulk cargoes, spanning coal, iron ore, grains and other commodities totaled 3.3 billion tons last year, Clarkson estimates.
In terms of ship acquisitions, Shiptrade reported that sales were at very low volumes, whilst there weren’t any price changes. With the absence of BDI reports since Christmas Eve, purchase enquiries declined merely due to seasonality. “However, based on individual regions changes since last week were not dramatic. In the bulker sector Handy size vessels were the popular with Handymax and Panamaxes following closely. In the wet sector MR tankers dominated purchase enquiries whereas other sizes ranged from very low to null levels.
Among the two reported sales was a resale Supramax from STX Dalian yard in China with delivery in 2011. The price is said to be USD 32 Mill but the buyers remain undisclosed. VLCC tanker “Front Shanghai” (271,978 DWT built in 2006 in Nantong, CHN) was reported sold for xs USD 91,25 bill with TC bacl at 35,000/day for two years to undisclosed buyers”, said Shiptrade.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 30 December 10
DRY BULK MARKET STAYS SUBDUED AT THE END OF 2010 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dy bulk market failed to cheer ship owners across the board as the year draws to an end, thus bringing mixed feelings ahead of 2011. On one hand ...
Thursday, 30 December 10
KANGAROO RESOURCES BUYS INDONESIAN COAL COMPANY
Australian-listed Kangaroo Resources Ltd. said Wednesday it will buy 99% of the Pakar thermal coal project in East Kalimantan, for A$277 million thr ...
Wednesday, 29 December 10
WEATHER IMPACTS RIO TINTO COAL AUSTRALIAS QUEENSLAND OPERATIONS
Press Release - As a result of severe monsoonal rain in central and northern Queensland, force majeure has been declared on coal sales contracts fro ...
Monday, 27 December 10
ANALYSIS: CHINA'S COAL PRODUCTION MISMATCHED WITH DOMESTIC DEMAND
As reported by iStock Analyst, China's coal market has been trapped in a strange cycle. Large coal production bases are facing overcapacity, while ...
Monday, 27 December 10
HUNT FOR OVERSEAS COAL ASSETS TO INTENSIFY - FINANCIAL EXPRESS
Financial Express reported that, With the Indian economy back on the track after the slowdown, merger and acquisition (M&A) activities in the re ...
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- Planning Commission, India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
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- Mintek Dendrill Indonesia
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- Kapuas Tunggal Persada - Indonesia
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- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
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- Australian Coal Association
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- White Energy Company Limited
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- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
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- Price Waterhouse Coopers - Russia
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- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
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- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
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- Coalindo Energy - Indonesia
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- McConnell Dowell - Australia
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- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
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- Simpson Spence & Young - Indonesia
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- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
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- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
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- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
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- CNBM International Corporation - China
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- Rashtriya Ispat Nigam Limited - India
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- Bhoruka Overseas - Indonesia
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- Aditya Birla Group - India
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- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
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