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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, 07 October 20
U.S. COAL PRODUCTION TO DECREASE BY 26 PERCENT IN 2020 COMPARED TO 2019 - EIA
EIA expects total U.S. coal production in 2020 to be 525 million short tons (MMst), compared with 705 MMst in 2019, a 26% decrease.
COVID-19 a ...
Wednesday, 07 October 20
MARKET INSIGHT - INTERMODAL
The challenges brought forward in 2020 proved to be very different from what we could have ever imagined. Together with placing a significant strai ...
Tuesday, 06 October 20
KOSPO TO IMPORT 80,000 MT OF 3,800 NCV COAL FOR 2H NOV
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 MT Min.3800 kcal/kg NCV coal 2H November, 2020 l ...
Friday, 02 October 20
THE INDONESIA COAL PRICE REFERENCE RISE AFTER HISTORIC CRASH TO US$ 49.42
COALspot.com: The Indonesia Coal Price Reference for the month of October Rise to US$ 51.00 after historic crash to US$ 49.42 in September 2020.
...
Friday, 02 October 20
SRI LANKA MUST LEARN LESSONS FROM AROUND ASIA TO AVOID FURTHER ELECTRICITY CRISES - IEEFA
Overcommitment to fossil-fuelled power generation is leading to excess capacity and rising capacity payments, subsidies, and tariffs around the con ...
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- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- The University of Queensland
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
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