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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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Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
Saturday, 22 January 11
POSSIBLE COAL EXPORT RESTRICTIONS ON INDONESIA UNLIKELY TO AFFECT CHURCHILL MINING - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the au ...
Thursday, 20 January 11
INDONESIA MAY BAN LOW-QUALITY COAL EXPORTS FROM 2014 - BLOOMBERG
Bloomberg reported that, The Indonesian government plans to ban exports of coal with an energy value of less than 5,600 kilocalories a kilogram star ...
Thursday, 20 January 11
SUPRAS ARE DOING USD 7- 8K FOR INDONESIA-INDIA - FEARNBULK
Handy
Negative sentiment for forward positions in the Atlantic market due to lack of cargo availability and too many ballasters from the East. Con ...
Thursday, 20 January 11
ITMG TARGETS TO PRODUCE 25 MILLION TONS OF COAL THIS YEAR - BISNIS INDONESIA
Bisnis Indonesia reported that, Coal producer PT Indo Tambangraya Megah Tbk (ITMG) targets to produce 25 million tons of coal this year, a 13. ...
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- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Planning Commission, India
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
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