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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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Tuesday, 01 March 11
GANGAVARAM PORT, AN INDIAN MODERN PORT CREATES RECORD
COALspot.com - Gangavaram Port, the deepest and the most modern port in India creates yet another record by discharging 65349 MT Coking Coal in 24 h ...
Monday, 28 February 11
COAL INDIA HIKES PRICES BY 12% FOR SELECT CONSUMERS - ECONOMIC TIMES
Economic Times reported that, Coal India has raised prices by an average 12% for some of its consumers from Sunday, boosting its revenue by 6,000 cr ...
Saturday, 26 February 11
CIL TO HIKE COAL PRICES BY 15 PC FROM TONIGHT - THE TIMES OF INDIA
The Times of India reported that, an Indian State-run coal producer, Coal India will raise the price of coal on an average by about 15 per cent with ...
Saturday, 26 February 11
SUPRAMAX INDEX WAS UP ABOUT 10 PERCENT THIS WEEK - VISTAAR
COALspot.com - The market started on a weak note and seemed to have lost the momentum seen the previous week. The main sectors affected were Cape an ...
Saturday, 26 February 11
PEABODY ENERGY ENTERS INTO COAL SOURCING AGREEMENT ACCESSING INDONESIAN COAL FOR EXPORT
Peabody Energy today said it has entered into an agreement with Indonesia's PT Cahaya Energi Mandiri (CEM) to source 2 million tons of coal for Asi ...
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- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- The University of Queensland
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
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