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Tuesday, 18 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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Sunday, 06 March 11
THE S6 ROUTE MAY CONTINUE TO BE FIRM - VISTAAR
COALspot.com - The freight market was firm this week with all indices up. The BDI , Cape Index and Panamax index was up by almost 9 pct where as Sup ...
Friday, 04 March 11
IRON ORE FROM INDIA HAS BEEN QUIET
Handy
Activity has been gradually rising in the Atlantic but it is mostly confined to the USG market. Short period basis redelivery Atlantic has b ...
Thursday, 03 March 11
TNPL INDIA LOOKING FOR 160,000 MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. is seeking to import 160,000 plus minus 5 percent metric tons of non-coking coal with Gross Calo ...
Wednesday, 02 March 11
MIXED FORTUNES FOR DRY BULK OWNERS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the dry bulk market has been on the positive side this week, things still look quite uncertain in the near term, with most owners puzzled a ...
Wednesday, 02 March 11
INDIA, 2ND LARGEST IMPORTER OF INDONESIAN COAL IN 2010
COALspot.com: Indonesia, the world largest coal exporter, shipped 24.68 million tons of coal in January 2011, which was 1.19 percent higher Y-o- ...
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- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Planning Commission, India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- The University of Queensland
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- White Energy Company Limited
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
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