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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, 27 October 20
PLN STILL REFUSING TO ADAPT, A MOVE WHICH WILL HURT INVESTORS, CONSUMERS, AND THE GOVERNMENT PURSE - IEEFA
Utility’s latest planning report locks PLN into the past
PLN would be better served restructuring its business to address the current en ...
Monday, 26 October 20
'LONG ASCENT' TO RECOVERY OF GLOBAL GROWTH - BALTIC EXCHANGE
The global economy has so far avoided a “financial catastrophe” but growth projections from the International Monetary Fund’s lat ...
Friday, 23 October 20
SHIPPING LOANS AND COLLATERAL DAMAGE - VICTOR ONYEGBADO, AKABOGU & ASSOCIATES
KNOWLEDGE TO ELEVATE
Shipping finance transactions are characterised by peculiar risk factors principally on account of the shipping asset&rsq ...
Friday, 23 October 20
WHAT WILL THE 2020 ELECTIONS MEAN FOR US ENERGY? - WOOD MACKENZIE
The 2020 elections present American voters with a choice between two radically different visions for the future of energy. President Donald Trump r ...
Wednesday, 21 October 20
BRAZIL EXPORTED 238.7 MLN TONNES OF IRON ORE IN THE FIRST 9 MONTHS OF 2020 - BANCHERO COSTA
Brazil’s iron ore exports have been gradually but steadily recovering following a disastrous winter period of 2019/2020. In the first 9 month ...
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- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Planning Commission, India
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- The University of Queensland
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
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