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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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Friday, 07 January 11
DRY BULK MARKET ON A FREEFALL, AS THE NEW YEAR EARLY DAYS DONT BRING MANY CHEERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is facing its worst slump in more than two years, falling by 4.75% yesterday to reach 1,544 points, on top of an additional 4.2% ...
Thursday, 06 January 11
OVERSEAS & GENERAL SIGNS AGREEMENT TO EXPAND FOOTPRINT ON COAL LEASE IN INDONESIA - PROACTIVE INVESTORS
Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...
Thursday, 06 January 11
BANPU EXPECTS ROSY 2011 AS COAL PRICES SKYROCKET - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...
Thursday, 06 January 11
COKING COAL CONTRACT PRICE MAY RISE 33% ON AUSTRALIAN FLOODS - BLOOMBERG
Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years ...
Wednesday, 05 January 11
HIGHER COAL PRICES LIFT UP COAL STOCKS
Thermal coal price this month has gone up 5.63% to US$127.70 per ton today from mid last month at US$120.89 per ton.
Thermal coal price for next ...
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- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- White Energy Company Limited
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- The University of Queensland
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
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