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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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Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
Saturday, 22 January 11
POSSIBLE COAL EXPORT RESTRICTIONS ON INDONESIA UNLIKELY TO AFFECT CHURCHILL MINING - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the au ...
Thursday, 20 January 11
INDONESIA MAY BAN LOW-QUALITY COAL EXPORTS FROM 2014 - BLOOMBERG
Bloomberg reported that, The Indonesian government plans to ban exports of coal with an energy value of less than 5,600 kilocalories a kilogram star ...
Thursday, 20 January 11
SUPRAS ARE DOING USD 7- 8K FOR INDONESIA-INDIA - FEARNBULK
Handy
Negative sentiment for forward positions in the Atlantic market due to lack of cargo availability and too many ballasters from the East. Con ...
Thursday, 20 January 11
ITMG TARGETS TO PRODUCE 25 MILLION TONS OF COAL THIS YEAR - BISNIS INDONESIA
Bisnis Indonesia reported that, Coal producer PT Indo Tambangraya Megah Tbk (ITMG) targets to produce 25 million tons of coal this year, a 13. ...
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- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- The University of Queensland
- Vedanta Resources Plc - India
- Planning Commission, India
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- White Energy Company Limited
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- VISA Power Limited - India
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
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