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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, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
Tuesday, 15 February 11
INDONESIAN COAL FOR HARYANA THERMAL PLANTS - PUNJAB NEWS LINE
To tide over the recurring coal shortage at thermal plants Haryana Power Generation Corporation Limited (HPGCL) has gone for Malaysian coal for its ...
Tuesday, 15 February 11
TONNAGE OVERSUPPLY TO CHOKE FREIGHT RATES IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a new report assessing the dry bulk market, BIMCO’s analysis suggests that freight rates for Capesize vessels are likely to remain depresse ...
Sunday, 13 February 11
COAL MARKETS 2011 TO HIGHLIGHT INDONESIAN COAL AND NEW SOURCES OF COAL SUPPLY
“Over 300 senior decision-makers from coal mining, power and trading companies expected to congregate in Singapore”
Press Release - K ...
Sunday, 13 February 11
YEAR OF RABBIT PUSHING FREIGHT MARKET UP
COALspot.com – “The market finally moved up with firmness in all sectors with some positive signs of markets recovering”, said Cap ...
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- Star Paper Mills Limited - India
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- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
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- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
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- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
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- CNBM International Corporation - China
- Thai Mozambique Logistica
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- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
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- SMC Global Power, Philippines
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- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
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- Sical Logistics Limited - India
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- Georgia Ports Authority, United States
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- Directorate Of Revenue Intelligence - India
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- ASAPP Information Group - India
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- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
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- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- McConnell Dowell - Australia
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- Petron Corporation, Philippines
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- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
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- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Australian Coal Association
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
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