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Monday, 24 January 11
DRY BULK MARKETS DOWNTURN SEES NO RELIEF - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79% this past week, to reach 1,370 points, thus falling below the 1,400-point mark and reaching its lowest level since early February of 2009. Since the beginning of New Year the BDI has plunged by 17.7% and is down by 56% from January 2010. As it turns out, the panamax segment suffered the most this week, while Supramaxes and Handysizes reversed their falls and turned positive.
Regarding the Capesize market, the pace of fall seems to have been reduced this week, ending Friday at 1,556 points, losing 2.45% on the week, but with analysts and shipbrokers claiming that the market has bottomed out. Still, Capesizes are earning around $9,000/day which, according to the latest weekly report from Golden Destiny, it seems that it has triggered the scrapping activity in this segment. In a separate report, N.Cotzias Shipping Group said that “this downfall may reverse soon, as the Queensland floods, can act as a recovery for the rates as longer per ton miles for alternative routes that China will expedite to import their needed quantities of hard coking coal.
Also with the Chinese New Year holidays approaching we may well experience more hypotonic momentum as orders from China will be less at least during the 2 weeks of festive holidays. However this may lead to a pre-stocking ordering get some fresh stockpiling and that may well act as a defibrillator that will give a burst of energy back in the Cape size segment that is in a very critical condition” said Cotzias. In total though, during the past three months, the BCI (Baltic Capesize Index) has fallen by more than 65% and by 62.6% year-on-year, now falling for 19 straight sessions.
Meanwhile, according to Golden Destiny, on the secondhand market front, the purchase interest has shown some signs of weakness as potential investors seem to wait the desired correction in asset prices. “Despite the negative sentiment in the freight markets this week shows some positive signs for the future of the industry. The encouraging signs are that the ordering activity has been eased off by 80% and the demolition activity has been boosted by 150% from previous week activity.
Overall, the week 3/2011 ended with 37 sales reported in the secondhand and demolition market and the highest activity has been witnessed for the first time since January 2009 in the demolition market. In the secondhand market, 17 vessels reported to have changed hands this week equalling a total amount of money invested region US$ 155 million, with 2 transactions reported on private terms. In terms of reported number of transactions, the S&P activity has been marked with a 37% negative w-o-w change and a 41% negative change comparable with previous year’s weekly S&P activity. Investors seem to have lost their appetite for bulk carriers as since the beginning of the year the total number of sales per week is hovering at low levels of less than 10 transactions reported per week. The tanker sector attracted once more most of the buying interest with 7 vessels reported to have changed hands equalling a total investment around of $98 million, around 63% share of the total invested capital in the S&P secondhand market” said the Piraeus-based shipbroker.
In the demolition market, 17 vessels were reported to have been headed to the scrap yards of total deadweight 669,529 tons, with India attracting most activity and still paying even more than $500/ldt. India, Pakistan and China are still taking advantage of the continued absence of Bangladesh. Even though the activity in Pakistan and China has been slowed down the last, there are expectations for an aggressive new year while Bangladesh is still pushing for more permission.
It remains to be seen whether the High Court will lift the current ban on the industry. At a similar week in 2009, scrapping activity was standing at the same firming levels, in terms of number of vessels, as 19 vessels equalling a total deadweight of 589,806 tons were reported for scrap but prices were hovering at much lower levels, around $350/ldt for dry and $380/ldt for wet cargo.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had pass ...
Tuesday, 25 January 11
DRY BULK RATES CONTINUED TO TUMBLE LAST WEEK - BRS
With weather-related problems affecting the short-term outlook, and new building deliveries the longer-term picture, dry bulk rates continued to tum ...
Tuesday, 25 January 11
R-POWER TO INVEST $5BN IN INDONESIA - THE TIMES OF INDIA
The Times of India reported that, In what is being seen as one of the largest foreign investments in Indonesia, Reliance Power will infuse $5 billio ...
Monday, 24 January 11
GOVT PROMISES COAL FOR PLN DESPITE PRICE SPIKES - THE JAKARTA POST
The Jakarta Post reported that, the government says state electricity company PT PLN will receive enough coal to fire its power plants, despite pric ...
Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
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- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Wilmar Investment Holdings
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