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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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Saturday, 20 November 10
ITALIAN STEAM COAL MARKET HAS RECOVERED - ITALIAN COAL ASSOCIATION
Press Release - This year Italy will import 17 million tons of steam coal, up 3% from 2009, and 5.5 million tons of coking coal and PCI, up 37% over ...
Friday, 19 November 10
WE'LL THINK ABOUT COAL TOMORROW - ANALYSIS
The future of coal generation in Russia is in question. The largest energy companies have abandoned their initial plans to switch their therma ...
Friday, 19 November 10
DRY BULK MARKET ON THE ROPES WITH BDI PLUNGING TO 2,164 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the panamax markets suffering the most this week, but a ray of hope for the capesize market, which appears to be stabilizing after days of fall ...
Thursday, 18 November 10
WORLD COAL ASSOCIATION WELCOMES NEW CHAIRMAN & SHENHUA GROUP AS NEW MEMBER 17 NOVEMBER 2010
Press Release – The premier global coal industry association marks its 25th anniversary with a new Chairman and welcomes China’s lar ...
Thursday, 18 November 10
MUNDRA PORT AWARDED BEST PRIVATE PORT - COMMODITY ONLINE / HELLENIC SHIPPING
Adani Group owned, Mundra Port has been awarded the Annual Indian Maritime Gateway Award for the Best Private Port of the Year for the third consecu ...
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- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Planning Commission, India
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- The University of Queensland
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
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