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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, 15 January 11
MAKE SACRIFICES TO SAVE PLN, INDONESIA GOVT BEGS MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Darwin Zahedi Saleh, Indonesia's minister of energy and mineral resources, on Friday appealed to local coal compan ...
Saturday, 15 January 11
RISING PRICES, GOVERNMENT DECREE LEAVE PLN AT LOGGERHEADS WITH COAL FIRMS - THE JAKARTA GLOBE
The Jakarta Globe reported that, As coal prices continue to increase, state utility Perusahaan Listrik Negara faces problems in securing enough coal ...
Thursday, 13 January 11
SURGING COAL PRICES UNDERMINE PLN'S EFFICIENCY PROGRAM - THE JAKARTA POST
The Jakarta Post reported that, The soaring global coal prices are undermining state electricity company PT PLN's pledge to improve its operational ...
Thursday, 13 January 11
SPML INFRA TO DOUBLE INDONESIA COAL MINE OUTPUT IN TWO YEARS - DNA INDIA
DNA India reported that, Kolkata-based infrastructure company SPML Infra, formerly Subhash Projects & Marketing Ltd, will in two years nearly do ...
Thursday, 13 January 11
DRY BULK RATES HIT NEW MULTI-MONTH LOWS ON AUSTRALIAS FLOODS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Floods in Australia’s Queensland has seriously disrupted coal shipments and together with a flood of vessels has pushed freight rates for dry ...
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Showing 5426 to 5430 news of total 6871 |
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- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- The University of Queensland
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
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