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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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Monday, 10 January 11
DEWA SEEKS ADVICE ON COAL POWER PROJECT -THE NATIONAL
The Dubai utility company gets nine bids from international groups for consultancy role.
The National reported that, Dubai's utility company wil ...
Saturday, 08 January 11
COAL PRICE WILL RISE IN SHORT-TERM DUE TO AUSTRALIA FLOODS - ALBUQUERQUE EXPRESS
Albuquerque Express reported that, Queensland’s mining minister, Stephen Robertson, has warned that the Australian state’s coal mines wi ...
Saturday, 08 January 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 8.69 PERCENT IN JANUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the January 2011 Indonesian Coal Reference Price for thermal ...
Saturday, 08 January 11
SUPRAMAX VESSELS WERE FIXED AT AROUND $ 9000 PD FOR A TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The holiday season affect combined with severe flooding in Queensland ports continues to keep the market and pressure. “Suprama ...
Saturday, 08 January 11
DIFFICULT YEAR FOR SHIPPING - TRANSPORT WEEKLY
Transport Weekly reported that, Shipping Corporation of India (SCI) chairman Sabyasachi Hajara says 2011 will be a difficult year because an excess ...
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- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Australian Coal Association
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
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