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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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Saturday, 08 January 11
AUSTRALIAN FLOODS MAY BOOST RIS COAL SALES - THE JAKARTA POST
The Jakarta Post reported that, Floods inundating Queensland have disrupted Australian coal production, and in turn may offer opportunities for Indo ...
Saturday, 08 January 11
GOVERNMENT REMAINS CAUTIOUS OVER FOREIGN INVESTMENT IN MINING SECTOR - THE JAKARTA GLOBE
The Jakarta Globe reported that, The government expects $3.2 billion of investment to flow into the mining sector this year as foreign investors tur ...
Friday, 07 January 11
14 LARGE-SCALE COAL BASES TO BE BUILT DURING 12TH FIVE-YEAR PLAN - GLOBAL TIMES
During the Twelfth Five-Year Plan period (2011-2015), China aims to build 14 large-scale coal bases, and annex and restructure 20 coal bases in orde ...
Friday, 07 January 11
JSW ENERGY LTD OF INDIA IS LOOKING FOR 45 MILLION TONS OF STEAM COAL FOR 25 YEARS
COALspot.com - Supply of 1.80 mmt (+/- 10%) of steam coal per annum for power plants at Toranagallu and Jaigad.
Accordign to JSWE's websit ...
Friday, 07 January 11
SRI LANKA NEW PORT TO OFFER SHIP FUEL IN MAY - LBO
LOB reported that, The Sri Lanka Ports Authority (SLPA) plans to start bunkering or ship fuel operations at a new port in southern Hambantota in May ...
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- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Australian Coal Association
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
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