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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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Wednesday, 21 October 20
INDIA: THE COMMERCIALISATION OF COAL BLOCKS WILL BENEFIT THE ECONOMY - HINDU BUSINESS LINE
As the government of India receives 76 bids for 23 coal mines against the 38 up on auction, what does this commercialisation of coal block allocati ...
Wednesday, 21 October 20
MARKET INSIGHT - INTERMODAL
The second wave of COVID-19 is now a reality; offices are closing again, and stricter rules and regulations are being implemented in public spaces. ...
Tuesday, 20 October 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.82 PCT - XINHUA
China Taiyuan coal transaction price index stood at 127.49 points Monday, up 0.82 percent week on week.
The index, released by China ...
Tuesday, 20 October 20
BIMCO 'SHIPLEASE' TERM SHEET - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
The ever-growing importance of sale and leaseback transactions as an alternative to financing ships by way of loan, makes ...
Friday, 16 October 20
KOMIPO ON BEHALF OF K GENCO'S INVITED BIDS FOR TOTAL 715,000 MT MIN. 5,700 NAR COAL FOR DECEMBER
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 715,000& ...
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- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Australian Coal Association
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Romanian Commodities Exchange
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
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