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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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Wednesday, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had pass ...
Tuesday, 25 January 11
DRY BULK RATES CONTINUED TO TUMBLE LAST WEEK - BRS
With weather-related problems affecting the short-term outlook, and new building deliveries the longer-term picture, dry bulk rates continued to tum ...
Tuesday, 25 January 11
R-POWER TO INVEST $5BN IN INDONESIA - THE TIMES OF INDIA
The Times of India reported that, In what is being seen as one of the largest foreign investments in Indonesia, Reliance Power will infuse $5 billio ...
Monday, 24 January 11
GOVT PROMISES COAL FOR PLN DESPITE PRICE SPIKES - THE JAKARTA POST
The Jakarta Post reported that, the government says state electricity company PT PLN will receive enough coal to fire its power plants, despite pric ...
Monday, 24 January 11
DRY BULK MARKETS DOWNTURN SEES NO RELIEF - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79 ...
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- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- White Energy Company Limited
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
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