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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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Friday, 07 January 11
DRY BULK MARKET ON A FREEFALL, AS THE NEW YEAR EARLY DAYS DONT BRING MANY CHEERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is facing its worst slump in more than two years, falling by 4.75% yesterday to reach 1,544 points, on top of an additional 4.2% ...
Thursday, 06 January 11
OVERSEAS & GENERAL SIGNS AGREEMENT TO EXPAND FOOTPRINT ON COAL LEASE IN INDONESIA - PROACTIVE INVESTORS
Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...
Thursday, 06 January 11
BANPU EXPECTS ROSY 2011 AS COAL PRICES SKYROCKET - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...
Thursday, 06 January 11
COKING COAL CONTRACT PRICE MAY RISE 33% ON AUSTRALIAN FLOODS - BLOOMBERG
Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years ...
Wednesday, 05 January 11
HIGHER COAL PRICES LIFT UP COAL STOCKS
Thermal coal price this month has gone up 5.63% to US$127.70 per ton today from mid last month at US$120.89 per ton.
Thermal coal price for next ...
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- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- The University of Queensland
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
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