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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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Thursday, 24 February 11
DRY BULK MARKET KEEPS LOSING GROUND, CAPESIZES SUFFERING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground yesterday, as the industry’s benchmark, the Baltic Dry Index was rapidly falling, ending the session d ...
Thursday, 24 February 11
SUPRAS ARE FIXED AT CLOSE TO 10K FOR TRIPS VIA INDONESIA TO INDIA WITH COAL - FEARNBULK
Handy
After a short lived surge in rates the Atlantic market has flattened out due to too many spot vessels. The USGulf has cooled down somewhat f ...
Wednesday, 23 February 11
LIMITED AVAILABILITY OF COAL COULD TRIP MEGA POWER PLANT - THE ECONOMIC TIMES
The Economic Times, an Indian leading news paper reported that, an acute shortage of domestic coal is threatening to destabilize new power generatio ...
Wednesday, 23 February 11
DRY BULK MARKET BACK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The two week rise of dry bulk freight rates seems to have come to a halt this week, with the industry’s benchmark, the Baltic Dry Index (BDI) lo ...
Wednesday, 23 February 11
INDONESIA NEEDS TO REVISE EXPORT BAN ON 5600 GAD COAL EXPORT - INDUSTRY
COALspot.com - The Indonesian government may be forced to revise its 2014 timeline for the proposed ban on all low quality coal exports, Patrick Han ...
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- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Minerals Council of Australia
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Planning Commission, India
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
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