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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, 30 September 20
MARKET INSIGHT - INTERMODAL
Spot rates for Capesize bulk carriers received a significant boost last week, however, there are certain reservations in the market regarding the p ...
Tuesday, 29 September 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.73 PCT - XINHUA
China Taiyuan coal transaction price index stood at 125.91 points Monday, up 0.73 percent week on week.
The index, released by China ...
Tuesday, 29 September 20
SHIPPING MARKET - ALLIED
Here we are, just a short breath before the final quarter of the year, and many are now debating to what extent we can really expect a firm dry bul ...
Tuesday, 29 September 20
INDONESIAN COAL COMPANIES' EARNINGS TO WEAKEN IN 2H20 - FITCH RATINGS
Rated Indonesian coal miners and contractors will have weaker operating and financial performances in the second half of 2020 than in the first, sa ...
Tuesday, 29 September 20
RUSSIA'S COAL PRODUCTION TO DROP BY 10.5% IN 2020, SAYS MINISTRY - TASS
Russia’s Economic Development Ministry projects a 10.5% decrease in coal production in the country in 2020 compared with last year to 395 mln ...
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- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
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