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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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Monday, 10 January 11
DEWA SEEKS ADVICE ON COAL POWER PROJECT -THE NATIONAL
The Dubai utility company gets nine bids from international groups for consultancy role.
The National reported that, Dubai's utility company wil ...
Saturday, 08 January 11
COAL PRICE WILL RISE IN SHORT-TERM DUE TO AUSTRALIA FLOODS - ALBUQUERQUE EXPRESS
Albuquerque Express reported that, Queensland’s mining minister, Stephen Robertson, has warned that the Australian state’s coal mines wi ...
Saturday, 08 January 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 8.69 PERCENT IN JANUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the January 2011 Indonesian Coal Reference Price for thermal ...
Saturday, 08 January 11
SUPRAMAX VESSELS WERE FIXED AT AROUND $ 9000 PD FOR A TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The holiday season affect combined with severe flooding in Queensland ports continues to keep the market and pressure. “Suprama ...
Saturday, 08 January 11
DIFFICULT YEAR FOR SHIPPING - TRANSPORT WEEKLY
Transport Weekly reported that, Shipping Corporation of India (SCI) chairman Sabyasachi Hajara says 2011 will be a difficult year because an excess ...
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- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Bhatia International Limited - India
- ASAPP Information Group - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
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