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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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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 ...
Thursday, 13 January 11
DRY BULK RATES HIT NEW MULTI-MONTH LOWS ON AUSTRALIAS FLOODS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Floods in Australia’s Queensland has seriously disrupted coal shipments and together with a flood of vessels has pushed freight rates for dry ...
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- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- VISA Power Limited - India
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Planning Commission, India
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