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Tuesday, 18 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index (BDI) has stayed lull at 1,439 points the lowest it’s been since April of 2009 and October of 2008. Still, yesterday, the capesize index lost an additional 0.31%, while the Panamax segment fell by 1.87 percent. The only “survivor” of the market was the smalle handysize segment which yesterday gained 1.05%.
According to Paris-based shipbroker Barry Rogliano Salles (BRS), dry bulk rates kept falling, mainly as a result of weather-related problems affecting the short-term outlook, and newbuilding deliveries the longer-term picture.
“Rising commodity prices indicate there is still good demand for product, which suggests newbuilding deliveries are the main issue affecting rates. After two weeks of 2011, 20 new Capes have been delivered, 9 Panamaxes, 28 Supramaxes, and 21 Handysizes, indicating the pace of delivery is increasing. In the FFA market, 2H 2011 is now trading at around US$21,000 per day compared to US$24,000 six months ago” said the shipbroker.
Regarding the beleaguered Capesize market, it’s been another period of softening rates, with the BCI losing an additional 15% last week, with the Cape 4TC, at just under $9,700, being now below the time charter equivalent for all the other bulk sizes. “Players reported a sharp drop in Australian business, with coal operations still disrupted due to weather factors, and a lacklustre demand for ore. In the period market, it was reported that a 161,000 tonner was taken for 3-5 months at US$13,000 per day.
However the sole one-year charter was signed at a BCI index-linked rate. On Monday however the BCI lost just 5 points, raising hopes among owners that the market may be bottoming out” said the report.
All this freight rate saga has altered things in the second hand sale and purchase market. According to BRS “the recent fall in freight rates has created a gap between Buyers and Sellers when it comes to prices, resulting in a very quiet S&P market. We expect this to last for the next few weeks until maybe after the Chinese New Year. This week's S&P menu is all about ‘age’, as in ‘overaged’, and ‘old age’ etc.
Arcelor Mittal have sold their Panamax ‘Kirti’ (68,000 dwt, built 1986 in Japan) to Chinese buyers for about US$10m. We understand that this is a December 2010 sale and that the vessel is due for SS & DD in April 2011, just after delivery to the buyers.
Excel Maritime of Greece have sold their Handymax ‘Marybelle’ (43,000 dwt, built 1987 in Japan) to Bangladeshi buyers for a price in the region of US$10.8m, which also seems to
be a December 2010 sale. In probably the most active week involving Egyptian interests we note that the National Navigation Co of Egypt have sold their sister Handies ‘Alwadi Al Gadeed’ and ‘Wadi Halfa’ (32,000 dwt, built 1985 in South Korea) for about US$7m each. At the same time Egyptian buyers have reportedly agreed a price in the region of US$6m for the Greek owned ‘Androniki’ (30,000 dwt, built 1984 in Japan) - yielding a nice return for the Seller who purchased the ship back in March 2009 as the ‘Manora Naree’ for US$2.9m from Precious in Thailand” concluded BRS.
In total, Piraeus-based shipbroker Golden Destiny reported 35 sales (including demolition activity) during the course of the previous week. “In the secondhand market, 27 vessels were reported to have changed hands this week equalling a total amount of money invested in the region of US$ 1,3 million, with 6 transactions reported for an undisclosed price. In terms of reported number of transactions, the S&P activity has been marked with a 28.5% positive w-o-w change and a 31% negative change comparable with previous year’s weekly S&P activity. The tanker sector attracted most attention, with an investment capital of $ 658,744 around 50% share of the total invested capital in the S&P secondhand market.
In the demolition market, 8 vessels reported to have been headed to the scrap yards of total deadweight just 310,651, with India attracting most activity. Despite the attractive price levels above 450 $/ldt and even surpassing the 500 $/ldt barrier, the reported transactions in terms of number of vessels heading the scrap yards remains at similar levels of last week. The Greek (but not greek based) presence has been noticed this week in 4 transactions reported in the secondhand and one in the newbuilding market. The preference in the secondhand market was towards the chemical tanker sector and a passenger vessel of 1585 passenger capacity, while the total invested capital was region $ 43 mil. In the newbuilding market the greek presence was noticed in the panamax bulkcarrier sector, with Safe Bulkers announcing to have contracted the subject vessel at region $ 41.7 mil” said Golden Destiny.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 20 January 11
DRY BULK MARKETS FALL SEES NO END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index ( ...
Wednesday, 19 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Tuesday, 18 January 11
MINISTRY SEEKS COAL FROM INDONESIA - SUNDAY OBSERVER
Sunday Observer reported that, Ministry of Power and Energy is to explore the possibilities of importing quality coal from Indonesia.
Minister Pa ...
Sunday, 16 January 11
STANCHART GLOBAL RESEARCH SEES COAL PRICE RISING ON SUPPLY DISRUPTION - BURSA MALAYSIA MARKET NEWS
Bursa Malaysia Market News reported that, Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on ...
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 ...
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- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- The University of Queensland
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
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