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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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Wednesday, 02 February 11
BAYAN TO SUPPLY COAL TO TP UTILITIES LTD
Insider Stories has reportd that, Indonesia's one of the leading coal miner PT Bayan Resources Tbk (BYAN) owned by businessman Dato' Low Tuck ...
Wednesday, 02 February 11
HUGE TONNAGE OVERSUPPLY LOOMING FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market taking another dive yesterday, to just over 1,000 points (1,084), losing more than 2% on the day, it’s more than obvi ...
Monday, 31 January 11
S. SUMATRA COAL RAILWAY TO BE COMPLETED ON SCHEDULE - THE JAKARTA POST
The Jakarta Post reported that, despite land acquisition problems, state coal mining company PT Bukit Asam is upbeat that the development of a railw ...
Monday, 31 January 11
COAL MINER PTBA TO DRIVE OUTPUT WITH ACQUISITIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, State coal company Perusahaan Tambang Batubara Bukit Asam said its output would increase 34 percent to 17.6 million ...
Saturday, 29 January 11
PRESSURE ON SHIPPING MARKET MAY CONTINUE UNTIL MID FEBRUARY 2011
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1370 points.
In May 2010 the BDI touched 4,209 ...
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- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Marubeni Corporation - India
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
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