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Tuesday, 11 January 11
DRY BULK MARKET REACHES NEW LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market’s benchmark index, the Baltic Dry Index (BDI) lost further ground in the beginning of the week, following the trend of the past week, which marked one of the fastest tumbling ones for freight rates in a long time. Yesterday, the BDI lost 1.58% to end the session down to 1,495 points, the lowest in almost two years.
Once again, the capesize sector didn’t manage to find any support, thus ending down by 4.13% and widening the gap with the smaller – sizewise – panamax market, which was up by 1.45%.
As a result, the BDI has now fallen by almost 32% since early December when it first began this downturn. According to a Reuters quote from consultancy firm Commodore Research’s managing director Jeffrey Landsberg, “a solid amount of Chinese iron ore fixtures have come to the market, the vast majority for capesize vessels. Capes are under great pressure, however, due to a large amount of available vessels. 'Simply put, the capesize fleet has become very large” he said. With Capesize rates now perilously close to the $10,000 mark, it’s more than obvious that owners must reconsider their ship demolition strategies. This applies especially to ship owners who have both modern and older dry bulk vessels, as the current market conditions, simply mean that some owners’ fleets are “canibalizing” each other. In other word, an owner’s older vessels are damaging his newer vessels by oversupplying the market and dampening rates.
So, what’s the situation in the demolition market? According to the latest report from Golden Destiny, “prices are hot not only in Indian sub-continent but also in China where cash buyers are successfully competing on a number of vessels offering comparatively firm prices. The highest price has been paid by China for a capesize of 208,739 dwt built 1982 for $480/ldt, a remarkable firm price for China due to a relative amount of bunker remaining on board. It is noteworthy that the scrap prices are at remarkable high levels not only for wet but also for dry cargo with India breaking the barrier of $500/ldt, whereas at the beginning of 2010 prices were hovering at $300-$350/ldt. Bangladesh market remains closed after the court order passed on 15th December 2010 that prevented respective authorities from issuing NOCs for incoming vessels for scrap and the BSBA (Bangladesh Shipbreakers Association) is ready to challenge the ruling and take the case to the High Court in a further round of appeals and objection. The first week of the year ended with 9 vessels reported to have been headed to the scrap yards equalling a total deadweight of around 704,629 tons with bulk carriers grasping the lion share, 56% of the total volume of vessels reported for scrap. These are positive news for the struggling dry sector and if the sector represents a firm pace of demolition activity in the first quarter of 2010 the market will find easier the path to recovery” said the Piraeus-based shipbroker.
In a separate analysis on the dry bulk market’s prospects during 2011, BIMCO’s analyst Peter Sand said that “for 2011, total dry bulk demand is forecast to grow by 7%, slowing down from the demand hike of 9% in 2010. The solid demand picture in a relatively stable market has seen owners returning to the yards to sign many new contracts. This happens only a year after owners ran to the yards to renegotiate all contracts in order to avoid receiving the vessels that were already on order. Going forward, the dry bulk market will continue its heavy reliance on Chinese demand: a demand that has been so strong in 2009 and 2010 that trade balances have been skewed more than normal and congestion in ports located in the main loading and discharge areas has been severe. The velocities of the Capesize freight rates movements are expected to continue going into 2011. Meanwhile, the smaller segments are predicted to be in more smooth waters than the bigger vessel types, as the inflow of new tonnage in these segments is less dramatic and the commodities which they transport are more diversified” concluded Mr. Sand. Will the index fall even below in the forthcoming weeks or the sentiment was just weak after the end of Christmas festivities? The fact is that the market has a long time to experience such dreadful levels since mid April 2009, when the BDI was at 1,534 points.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
Saturday, 15 January 11
MAKE SACRIFICES TO SAVE PLN, INDONESIA GOVT BEGS MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Darwin Zahedi Saleh, Indonesia's minister of energy and mineral resources, on Friday appealed to local coal compan ...
Saturday, 15 January 11
RISING PRICES, GOVERNMENT DECREE LEAVE PLN AT LOGGERHEADS WITH COAL FIRMS - THE JAKARTA GLOBE
The Jakarta Globe reported that, As coal prices continue to increase, state utility Perusahaan Listrik Negara faces problems in securing enough coal ...
Thursday, 13 January 11
SURGING COAL PRICES UNDERMINE PLN'S EFFICIENCY PROGRAM - THE JAKARTA POST
The Jakarta Post reported that, The soaring global coal prices are undermining state electricity company PT PLN's pledge to improve its operational ...
Thursday, 13 January 11
SPML INFRA TO DOUBLE INDONESIA COAL MINE OUTPUT IN TWO YEARS - DNA INDIA
DNA India reported that, Kolkata-based infrastructure company SPML Infra, formerly Subhash Projects & Marketing Ltd, will in two years nearly do ...
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- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- CNBM International Corporation - China
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- White Energy Company Limited
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
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