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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, 12 January 11
BULKER DELIVERIES WEIGHING IN ON FREIGHT RATES KEEPING SENTIMENT ON A NEGATIVE MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of new buildings still hitting the water has caught up for good with the freight market, with capesizes unable to weather the storm. With r ...
Tuesday, 11 January 11
SUPRAMAX TRIP VIA INDONESIA TO INDIA US$ 8,000 PER DAY
Despite continued growth in the bulk trades, the delivery of new vessels is beginning to take its toll. The BDI continued its decline, finishing las ...
Tuesday, 11 January 11
DRY BULK MARKET REACHES NEW LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark index, the Baltic Dry Index (BDI) lost further ground in the beginning of the week, following the trend of the ...
Monday, 10 January 11
MINING INVESTMENT TARGET TOO LOW - TEMPO INTERACTIVE
TEMPO Interactive reported that, the Indonesian Mining Association’s executive director, Priyo Pribadi, believes the government’s invest ...
Monday, 10 January 11
COAL MONGOLIA IS INVITING YOU TO THE INTERNATIONAL COAL SECTOR INVESTORS CONFERENCE
COALspot.com - (Press Release) - The Coal Mongolian Conference will take place at Chinggis Hotel, in Ulaanbaatar on 24-25, Feb 2011. The coal bonanz ...
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- The Treasury - Australian Government
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
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