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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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Tuesday, 04 January 11
DRY BULK MARKET TO RANGE BETWEEN 1,700 AND 2,600 POINTS IN THE FIRST QUARTER OF 2011, ANALYSTS SAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As we entered 2011, ship owners and analysts, as well as shipbrokers are looking into their “crystal balls” to try to decode the dry bul ...
Monday, 03 January 11
TAXATION FOR COAL MINING COMPANIES IN INDONESIA - A TAX EXPERTS VIEW
COALspot.com - Mrs. Sri Wahyuni Sujono, managing partner of SF Consulting has wrote an exclusive report regarding taxation for coal mining companies ...
Sunday, 02 January 11
JAISWAL TO SEEK COAL MINES IN AFRICA - HINDUSTAN TIMES
Coal Minister Sriprakash Jaiswal will talk with his counterparts in South Africa and Mozambique during his visit from January 5 to secure coal asset ...
Saturday, 01 January 11
COAL PRODUCTION EXPECTED TO EXCEED 340 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce 340 million tons of coal in 2011, an increase of 23 percent from 275 millio ...
Friday, 31 December 10
STC TO FINALIZE 12 MILLION MT OF COAL IMPORT CONTRACT TO TWO INDIAN AND A DUBAI BASED COAL TRADER - SOURCES
COALspot.com - World's single largest coal import tender floated by STC on behalf of state utility NTPC to finalize its suppliers or already finali ...
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- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Australian Coal Association
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
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