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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, 23 December 10
SOUTHGOBI RESOURCES CLOSES STRATEGIC INVESTMENT IN ASPIRE MINING LIMITED
Press Release – SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878), announced today that it has completed the private placement with Aspire Mining ...
Thursday, 23 December 10
CESC EYES COAL MINES IN INDONESIA, S AFRICA - TEHELKA
Company has already set a target of adding 6,000 MW power generation by the end of the 12th Plan in 2017
Tehelka reported that, CESC Ltd, the fla ...
Thursday, 23 December 10
SANTA CLAUSE DID NOT COME EARLY THIS YEAR - FEARNBULK
Handy
Not much fresh enquiry this week and quite dead in Bl.Sea/Med. Nevertheless ...
Thursday, 23 December 10
STERLITE ENERGY LIMITED TO BUY 0.6 MLN MT OF COAL FOR 2011
COALspot.com - Sterlite Energy Limited (SEL) is a part of Vedanta Resources plc , a London listed FTSE 100 diversified metals and mining major with ...
Wednesday, 22 December 10
PEABODY ENERGY TO SOURCE INDONESIAN COAL FROM PT SUPRA BARA ENERGI (SBE) - COAL GEOLOGY
Coal Geology reported that, Peabody Energy has entered into an agreement to source coal from PT Supra Bara Energi (SBE), which will be sold on the e ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- The University of Queensland
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Australian Coal Association
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Planning Commission, India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
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