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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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Saturday, 29 January 11
ANTAM ACQUIRES SAROLANGUN COAL MINING
According to Insider Stories, Nickel and gold miner PT Aneka Tambang Tbk (Antam) of Indonesia via its subsidiary PT Indonesia Coal Resources (ICR) h ...
Friday, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Friday, 28 January 11
DRY BULK MARKET CLOSING IN TOWARDS CRISIS LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
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- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- CNBM International Corporation - China
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
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