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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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Thursday, 20 January 11
DRY BULK MARKETS FALL SEES NO END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index ( ...
Wednesday, 19 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 ...
Tuesday, 18 January 11
MINISTRY SEEKS COAL FROM INDONESIA - SUNDAY OBSERVER
Sunday Observer reported that, Ministry of Power and Energy is to explore the possibilities of importing quality coal from Indonesia.
Minister Pa ...
Sunday, 16 January 11
STANCHART GLOBAL RESEARCH SEES COAL PRICE RISING ON SUPPLY DISRUPTION - BURSA MALAYSIA MARKET NEWS
Bursa Malaysia Market News reported that, Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on ...
Saturday, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
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- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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