We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 23 December 10
SOUTHGOBI RESOURCES CLOSES STRATEGIC INVESTMENT IN ASPIRE MINING LIMITED
Press Release – SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878), announced today that it has completed the private placement with Aspire Mining ...
Thursday, 23 December 10
CESC EYES COAL MINES IN INDONESIA, S AFRICA - TEHELKA
Company has already set a target of adding 6,000 MW power generation by the end of the 12th Plan in 2017
Tehelka reported that, CESC Ltd, the fla ...
Thursday, 23 December 10
SANTA CLAUSE DID NOT COME EARLY THIS YEAR - FEARNBULK
Handy
Not much fresh enquiry this week and quite dead in Bl.Sea/Med. Nevertheless ...
Thursday, 23 December 10
STERLITE ENERGY LIMITED TO BUY 0.6 MLN MT OF COAL FOR 2011
COALspot.com - Sterlite Energy Limited (SEL) is a part of Vedanta Resources plc , a London listed FTSE 100 diversified metals and mining major with ...
Wednesday, 22 December 10
PEABODY ENERGY TO SOURCE INDONESIAN COAL FROM PT SUPRA BARA ENERGI (SBE) - COAL GEOLOGY
Coal Geology reported that, Peabody Energy has entered into an agreement to source coal from PT Supra Bara Energi (SBE), which will be sold on the e ...
|
|
|
Showing 5471 to 5475 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
|
| |
| |
|
