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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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- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- PTC India Limited - India
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
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