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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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Thursday, 20 January 11
DRY BULK MARKETS FALL SEES NO END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index ( ...
Tuesday, 18 January 11
MINISTRY SEEKS COAL FROM INDONESIA - SUNDAY OBSERVER
Sunday Observer reported that, Ministry of Power and Energy is to explore the possibilities of importing quality coal from Indonesia.
Minister Pa ...
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 ...
Sunday, 16 January 11
STANCHART GLOBAL RESEARCH SEES COAL PRICE RISING ON SUPPLY DISRUPTION - BURSA MALAYSIA MARKET NEWS
Bursa Malaysia Market News reported that, Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on ...
Saturday, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
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- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Australian Coal Association
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
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