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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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Monday, 07 February 11
RICHARDS BAY COAL TERMINAL EXPORTS SURGE, BUOYED BY ECONOMIC DEVELOPMENT IN CHINA AND INDIA
COALspot.com - Richards Bay Coal Terminal (RBCT) announced today that 2010 exports have exceeded the last two years’ performance, said in a re ...
Monday, 07 February 11
RBCT SHIPPED 28.67 PERCENT LESS COAL IN JANUARY
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest export coal terminal in the world, shipped 4,389,925 MT of coal in January 20 ...
Sunday, 06 February 11
THE PANAMAX & SUPRAMAX FUTURES FOR 2011-2013 WAS AT AROUND US$ 16,500 & US$ 15,000 PER DAY RESPECTIVELY
COALspot.com - With the Chinese new year holidays this week, the market has been fairly quite as expected.
The BDI saw a bigger drop compared to ...
Saturday, 05 February 11
INDONESIAN ENERGY MINISTER HAS SIGNED A DECREE FOR COAL TRANSPORTATION PERMITS ON FRIDAY
COALspot.com - Minister of Energy, Darwin Minister Saleh said, that, he had signed a decree for transportation and sale of coal, which was the ...
Saturday, 05 February 11
ANCHORAGE LOADING POINT MOVED TO MUARA JAWA
COALspot.com - The Ministry of Transportation Republic Indonesia has announced that, the loading point at Muara Berau, East kalimantan h ...
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- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Parliament of New Zealand
- Interocean Group of Companies - India
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- PTC India Limited - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- The University of Queensland
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
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