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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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Wednesday, 05 January 11
BUKIT ASAM TARGETS 20% BUY TO GROW COAL TRANSPORT CAPACITY - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesian coal producer Tambang Batubara Bukit Asam is considering buying an additional 20 percent stake in Bukit ...
Wednesday, 05 January 11
FLOODING IN AUSTRALIA WILL CAUSE COAL PRICES TO SPIKE AT LEAST 20 PERCENT
Rising coal prices are set to spike at least 20 per cent higher because of supply shortages due to severe flooding in Australia, adding cost pressur ...
Wednesday, 05 January 11
DRY BULK MARKET BEGINS NEW YEAR ON SOUR NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Seasonal factors like the worst flooding in Australia’s Queensland in half a century, coupled with thin trade activity has put the dry bulk ma ...
Tuesday, 04 January 11
THE WCI-CHINA ROUTE WAS TRADED IN THE MID US$ 10,000S - BRS DRY BULK
As reported by BRS Dry Bulk, after a stronger than expected performance in 2010, rates finished on a sombre note in December with the BDI at1,773 po ...
Tuesday, 04 January 11
BALI, INDONESIA HOST OF WORLD RENEWABLE ENERGY AND ENERGY EFFICIENCY CONFERENCE
Press Release - Indonesian Renewable Energy Society (METI – IRES) has launched the plan for organizing the international gathering ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- PTC India Limited - India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
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