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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, 25 November 10
JSW ENERGY BUYS CANADIAN COAL FIRM FOR $411 MN - NDTV PROFIT
NDTV Profit reported that, Sajjan Jindal-owned JSW Energy on Wednesday said it has entered into an agreement to buy out British Virgin Islands-based ...
Thursday, 25 November 10
DRY BULK MARKET STILL GOING STRONG THIS WEEK, CAPESIZE SECTOR LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI) gaining a further 0.64% to e ...
Wednesday, 24 November 10
COAL PRODUCTION PREDICTED TO CLIMB IN SUNNIER 2011 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal producers are expected to increase output by 13 percent in 2011, thanks to predicted better ...
Monday, 22 November 10
RUSSIA'S KTK HAS PRODUCED 4.59 MLN TONNES OF COAL IN FIRST 9 MONTHS OR AN INCREASE OF 5% YEAR-ON-YEAR
COALspot.com (Press Release) - KTK has produced 4.59 mln tonnes of coal in first nine months or an increase of 5% year-on-year.
Kuzbasskaya Topli ...
Sunday, 21 November 10
THE FREIGHT MARKET MAY SLIGHTLY FIRM UP NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market continued its down fall with BDI down by 6.83 pct and closed at 2,155 points.
According to Vistaar Shipping of S ...
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- Goldman Sachs - Singapore
- Bhatia International Limited - India
- White Energy Company Limited
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Australian Coal Association
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- SMC Global Power, Philippines
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
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