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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, 17 November 10
DRY BULK MARKET LOOKING FOR SUPPORT IN COAL TRADES AND INDIAN IRON ORE EXPORTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Nikos Roussanoglou, Hellenic Shipping reported that, the dry bulk market is lacking support to end its 13-day slide, as evidenced by Monday’s ...
Tuesday, 16 November 10
'VALLAR PLC' TO BECOME 'BUMI PLC' POST DEAL - THE JAKARTA POST
The Jakarta Post reported that, The United Kingdom’s Vallar Plc will change its name to Bumi Plc following a cash and stock transaction with t ...
Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal c ...
Sunday, 14 November 10
THE FREIGHT MARKET CONTINUED ITS DOWN FALL - VISTAAR SINGAPORE
COALspot.com: The freight market continued its down fall with BDI down by 7.29 pct and closed at 2,313 points.
All other segments were also under ...
Saturday, 13 November 10
INDONESIA SHIPPED 8.73 % MORE COAL IN OCTOBER THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23.55 mln mt of coal in October 2010, which is 8.73 percent more compared to Septe ...
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- Central Electricity Authority - India
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Planning Commission, India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
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