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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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- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
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