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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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Saturday, 29 January 11
ANTAM ACQUIRES SAROLANGUN COAL MINING
According to Insider Stories, Nickel and gold miner PT Aneka Tambang Tbk (Antam) of Indonesia via its subsidiary PT Indonesia Coal Resources (ICR) h ...
Friday, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Friday, 28 January 11
DRY BULK MARKET CLOSING IN TOWARDS CRISIS LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
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- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- The University of Queensland
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Australian Coal Association
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
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