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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, 08 January 11
AUSTRALIAN FLOODS MAY BOOST RIS COAL SALES - THE JAKARTA POST
The Jakarta Post reported that, Floods inundating Queensland have disrupted Australian coal production, and in turn may offer opportunities for Indo ...
Saturday, 08 January 11
GOVERNMENT REMAINS CAUTIOUS OVER FOREIGN INVESTMENT IN MINING SECTOR - THE JAKARTA GLOBE
The Jakarta Globe reported that, The government expects $3.2 billion of investment to flow into the mining sector this year as foreign investors tur ...
Friday, 07 January 11
14 LARGE-SCALE COAL BASES TO BE BUILT DURING 12TH FIVE-YEAR PLAN - GLOBAL TIMES
During the Twelfth Five-Year Plan period (2011-2015), China aims to build 14 large-scale coal bases, and annex and restructure 20 coal bases in orde ...
Friday, 07 January 11
JSW ENERGY LTD OF INDIA IS LOOKING FOR 45 MILLION TONS OF STEAM COAL FOR 25 YEARS
COALspot.com - Supply of 1.80 mmt (+/- 10%) of steam coal per annum for power plants at Toranagallu and Jaigad.
Accordign to JSWE's websit ...
Friday, 07 January 11
SRI LANKA NEW PORT TO OFFER SHIP FUEL IN MAY - LBO
LOB reported that, The Sri Lanka Ports Authority (SLPA) plans to start bunkering or ship fuel operations at a new port in southern Hambantota in May ...
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- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
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