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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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Wednesday, 05 January 11
BUKIT ASAM TARGETS 20% BUY TO GROW COAL TRANSPORT CAPACITY - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesian coal producer Tambang Batubara Bukit Asam is considering buying an additional 20 percent stake in Bukit ...
Wednesday, 05 January 11
FLOODING IN AUSTRALIA WILL CAUSE COAL PRICES TO SPIKE AT LEAST 20 PERCENT
Rising coal prices are set to spike at least 20 per cent higher because of supply shortages due to severe flooding in Australia, adding cost pressur ...
Wednesday, 05 January 11
DRY BULK MARKET BEGINS NEW YEAR ON SOUR NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Seasonal factors like the worst flooding in Australia’s Queensland in half a century, coupled with thin trade activity has put the dry bulk ma ...
Tuesday, 04 January 11
THE WCI-CHINA ROUTE WAS TRADED IN THE MID US$ 10,000S - BRS DRY BULK
As reported by BRS Dry Bulk, after a stronger than expected performance in 2010, rates finished on a sombre note in December with the BDI at1,773 po ...
Tuesday, 04 January 11
BALI, INDONESIA HOST OF WORLD RENEWABLE ENERGY AND ENERGY EFFICIENCY CONFERENCE
Press Release - Indonesian Renewable Energy Society (METI – IRES) has launched the plan for organizing the international gathering ...
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- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Parliament of New Zealand
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
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