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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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Monday, 27 December 10
RIO TINTO EYES AUSTRALIAN COAL MINER - RTE NEWS
Global resources giant Rio Tinto has made a $3.9 billion bid for Australian coal miner Riversdale.
RTE News reported that, Global resources giant ...
Sunday, 26 December 10
ANGLO SELLS AUSTRALIAN COAL ASSETS - BARCELONA NEWS
Barcelona News reported that, Anglo American has sold off undeveloped Australia coal assets for $577 million.
The global resources giant ha ...
Saturday, 25 December 10
FREIGHT MARKET - LOWEST FIXTURES REPORTED SINCE MID 2009 - CAPT. REDDY
COALspot.com - We wish you a Merry Christmas and a Happy New Year 2011.
The holiday season seems to have severely affected the fr ...
Friday, 24 December 10
CIL SHORTLISTS 21 FIRMS TO IMPORT 250 MT COAL - THE HINDU
The Hindu reported that, Coal India plans to import about 250 million tonnes (mt) over the next 10 years to meet the country's growing requirement. ...
Friday, 24 December 10
DRY BULK OWNERS COULD SOON RECONSIDER SCRAPPING OLDER VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market close to its lowest levels in months and indeed close to 2010 lows, ship owners could be heading towards scrapyards in a bi ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Sojitz Corporation - Japan
- The University of Queensland
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
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