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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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Friday, 04 February 11
PERTAMINA DENIES KAREN AGUSTIAWAN RESIGNS FROM PERTAMINA
COALspot.com - The President Director of PT Pertamina, Karen Agustiawan reportedly will replace Darwin Saleh as Minister of Energy and Mineral Resou ...
Friday, 04 February 11
ADARO ENERGY FY10 COAL SALES UP 6 PERCENT TO 43.84 MILLION
As reported by insider stories, Indonesian coal miners PT Adaro Energy Tbk has produced 42.20 million tons of coal in 2010, a 4 percent increase com ...
Thursday, 03 February 11
MERCATOR LINES TO INVEST RS 200-250 CRORE ON COAL MINE IN INDONESIA - ECONOMIC TIMES
Economic Times reported that, Mercator Lines, the HK Mittal-controlled shipping-to-mines major, will invest about 200-250 crore (US$ 43.825 - 54.781 ...
Thursday, 03 February 11
DRY BULK MARKET LOOKS SET TO BOTTOM OUT NIKOS - ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market having lost more than 72% of its value in the last month or so and having retreated to a 2-year low, it seems that the bott ...
Wednesday, 02 February 11
INDONESIA MAY MISS COAL EXPORT TARGET IN 2011
COALspot.com - Indonesian Trade ministry has instructed independent surveyors temporarily not to issue pre-shipment survey report (LS) to the compan ...
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- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Thai Mozambique Logistica
- Aditya Birla Group - India
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Planning Commission, India
- Minerals Council of Australia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Siam City Cement - Thailand
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
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