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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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Friday, 12 November 10
BANPU'S NET PROFIT HAS INCREASED 249 PERCENT IN 3Q 2010 COMPARED TO THE SAME PERIOD LAST YEAR
COALspot.com: Banpu Public Company Limited (BANPU) reports its financial performance for the third quarter 2010, posting a net profit of THB 13,293 ...
Friday, 12 November 10
DRY BULK MARKET STILL ON A FREEFALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market failed to show any signs of life this week, with the Baltic Dry Index (BDI) still being on the red, now stretching more than 11 ...
Thursday, 11 November 10
KOMIPO WANTS 400KT OF SUB BITUMINOUS COAL
COALspot.com : Korea Midland Power Co. Ltd. (KOMIPO) is looking for 400,000 MT of sub bituminous coal through International open bidding. The delive ...
Wednesday, 10 November 10
NTPC TO IMPORT 12 MILLION TONS OF COAL IN 2011
COALspot.com: India's State Trading Corp Ltd a public sector Govt of India co. is looking for 12 million tones (+/- 2%) of imported coal for NTPC. ...
Tuesday, 09 November 10
NOBLE GROUP APPOINTED AS THE EXCLUSIVE MARKETING AGENT FOR PT. BERAU COAL
COALspot.com: Noble Group Limited has recently been appointed as the exclusive marketing agent for PT. Berau Coal production exported to internation ...
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- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Australian Coal Association
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Planning Commission, India
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
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