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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 (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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Friday, 04 February 11
PERTAMINA DENIES KAREN AGUSTIAWAN RESIGNS FROM PERTAMINA
COALspot.com - The President Director of PT Pertamina, Karen Agustiawan reportedly will replace Darwin Saleh as Minister of Energy and Mineral Resou ...
Friday, 04 February 11
ADARO ENERGY FY10 COAL SALES UP 6 PERCENT TO 43.84 MILLION
As reported by insider stories, Indonesian coal miners PT Adaro Energy Tbk has produced 42.20 million tons of coal in 2010, a 4 percent increase com ...
Thursday, 03 February 11
MERCATOR LINES TO INVEST RS 200-250 CRORE ON COAL MINE IN INDONESIA - ECONOMIC TIMES
Economic Times reported that, Mercator Lines, the HK Mittal-controlled shipping-to-mines major, will invest about 200-250 crore (US$ 43.825 - 54.781 ...
Thursday, 03 February 11
DRY BULK MARKET LOOKS SET TO BOTTOM OUT NIKOS - ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market having lost more than 72% of its value in the last month or so and having retreated to a 2-year low, it seems that the bott ...
Wednesday, 02 February 11
INDONESIA MAY MISS COAL EXPORT TARGET IN 2011
COALspot.com - Indonesian Trade ministry has instructed independent surveyors temporarily not to issue pre-shipment survey report (LS) to the compan ...
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- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Australian Coal Association
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
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