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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, 02 December 10
INDIA'S COAL SHORTAGE TO DEEPEN NEXT YEAR - MONEY CONTROL
Money Control reported that, India's coal deficit will deepen sharply next year, its coal minister said on Tuesday, forcing Asia's third largest e ...
Thursday, 02 December 10
CIL INCHES CLOSER TO PEABODY STAKE DEAL - THE TELEGRAPH INDIA
The Telegraph India reported that, state-run Coal India Ltd (CIL) hopes to complete negotiations to buy over 10 per cent in Australian miner Peabody ...
Thursday, 02 December 10
DRY BULK MARKET WEIGHED DOWN BY CAPESIZE BLUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The negative sentiment currently undergoing in the capesize market has kept the dry bulk market’s benchmark, the Baltic Dry Index (BDI) on the ...
Monday, 29 November 10
NUCLEAR SUPERTANKERS TO SHAKE UP SHIPPING - THIS IS MONEY
This is money reported that, plans are under way that could see nuclear-powered supertankers sailing the world’s shipping lanes, refuelling on ...
Sunday, 28 November 10
FREIGHT MARKET SEEMS TO BE NERVOUS - VISTAAR
COALspot.com - The freight market continued to remain uncertain even though only cape index was down by 8.31 pct.
Overall the market seems to be ...
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- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- The University of Queensland
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- MS Steel International - UAE
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Australian Coal Association
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
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