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