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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, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had pass ...
Tuesday, 25 January 11
DRY BULK RATES CONTINUED TO TUMBLE LAST WEEK - BRS
With weather-related problems affecting the short-term outlook, and new building deliveries the longer-term picture, dry bulk rates continued to tum ...
Tuesday, 25 January 11
R-POWER TO INVEST $5BN IN INDONESIA - THE TIMES OF INDIA
The Times of India reported that, In what is being seen as one of the largest foreign investments in Indonesia, Reliance Power will infuse $5 billio ...
Monday, 24 January 11
GOVT PROMISES COAL FOR PLN DESPITE PRICE SPIKES - THE JAKARTA POST
The Jakarta Post reported that, the government says state electricity company PT PLN will receive enough coal to fire its power plants, despite pric ...
Monday, 24 January 11
DRY BULK MARKETS DOWNTURN SEES NO RELIEF - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79 ...
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- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Posco Energy - South Korea
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- The University of Queensland
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Australian Coal Association
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
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