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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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Thursday, 30 December 10
DRY BULK MARKET STAYS SUBDUED AT THE END OF 2010 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dy bulk market failed to cheer ship owners across the board as the year draws to an end, thus bringing mixed feelings ahead of 2011. On one hand ...
Thursday, 30 December 10
KANGAROO RESOURCES BUYS INDONESIAN COAL COMPANY
Australian-listed Kangaroo Resources Ltd. said Wednesday it will buy 99% of the Pakar thermal coal project in East Kalimantan, for A$277 million thr ...
Wednesday, 29 December 10
WEATHER IMPACTS RIO TINTO COAL AUSTRALIAS QUEENSLAND OPERATIONS
Press Release - As a result of severe monsoonal rain in central and northern Queensland, force majeure has been declared on coal sales contracts fro ...
Monday, 27 December 10
ANALYSIS: CHINA'S COAL PRODUCTION MISMATCHED WITH DOMESTIC DEMAND
As reported by iStock Analyst, China's coal market has been trapped in a strange cycle. Large coal production bases are facing overcapacity, while ...
Monday, 27 December 10
HUNT FOR OVERSEAS COAL ASSETS TO INTENSIFY - FINANCIAL EXPRESS
Financial Express reported that, With the Indian economy back on the track after the slowdown, merger and acquisition (M&A) activities in the re ...
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- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- MS Steel International - UAE
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- White Energy Company Limited
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- The University of Queensland
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
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