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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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Thursday, 09 December 10
DRY BULK MARKET LOOKING FOR DIRECTION THIS WEEK, AS CAPESIZE SHIPS END THEIR MISFORTUNES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk has began the week on a positive note capitalizing on the positive sentiment which finally prevailed during the last days of the previo ...
Monday, 06 December 10
NTPC MAY OPT FOR INDONESIA OVER AFRICA, OZ FOR COAL MINES
Country's largest power producer NTPC, which is scouting for coal properties abroad to fuel its power plants back home, may zero in on Indonesia fo ...
Saturday, 04 December 10
INDONESIA TO INDIA AND CHINA SEA FREIGHT UP BY ABOUT US$ 2.50 PMT - CAPT. REDDY
COALspot.com - The freight market even though remained weak, but towards end of the week the market seemed to firm up.
The BDI was almost at sam ...
Saturday, 04 December 10
OFF WEST COAST OF INDIA TONNAGE IS SEEMINGLY QUITE SPARSE - FEARNBULK
Handy
The Atlantic markets are weak and remained unusually calm after the Thanksgiving ...
Friday, 03 December 10
INDONESIAN LOW RANK COAL IS ATTRACTING COAL BUYERS FROM INDIA AND CHINA
COALspot.com - Bhakti Energi Persada has sold out its whole coal production until the end of 2011, Jeffry Mulyono said during McCloskey Asia P ...
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- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Posco Energy - South Korea
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Economic Council, Georgia
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
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