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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, 15 December 10
SMALLER DRY BULK VESSELS ARE LOOKING UP, LARGER ONES FAIL TO DELIVER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground at the beginning of the week, in what could prove one of the slowest periods ship owners have been faced. Ye ...
Tuesday, 14 December 10
COAL IMPORTS MAY INCREASE 78% TO CHINA, INDIA: ENERGY MARKETS - BUSINESS WEEK
Business Week reported that, China and India may increase imports of coal by 78 percent to 337 million metric tons next year, further driving up pri ...
Tuesday, 14 December 10
BANPU PLANNING PRODUCTION BOOM - BANGKOK POST
Australian, Indonesian output to lead growth
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, wants to nearly double its coal ...
Tuesday, 14 December 10
THE FREIGHT RATES FROM INDONESIA TO INDIA AND CHINA REMAINED FIRM - CAPT. REDDY
COALspot.com - The freight market continued to be soft with the Cape sector most effected which was down by 289 points and closed at 2,694 poi ...
Monday, 13 December 10
ICE FUTURES EUROPE TO LAUNCH IHS MCCLOSKEY INDONESIAN SUB-BITUMINOUS FOB MARKER COAL CONTRACTS - MONDOVISIONE
Mondovisione reported that, IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over ...
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- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
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