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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, 04 November 10
GVK TALKS WITH MEC FOR INDONESIAN MINES DEAL - DNA INDIA
As reported by DNA India, GVK Power and Infrastructure on Wednesday said it is in talks with Gulf-based MEC Coal to buy its coal mines in Indonesia, ...
Wednesday, 03 November 10
PANAMAX SIZE DRY-BULK CARRIER MARKET IS STRONG - GERSON LEHRMAN
Panamax class vessels have been part of the fluctuation of the broader current dry bulk market. They have experienced occasional steep movements, du ...
Tuesday, 02 November 10
ADDED VALUE REMAINS STAGNANT - MAJALAH TAMBANG
The improvement of added value of mining products in accordance with mandate of the mining law has not been visible. Minerals and coal are still exp ...
Saturday, 30 October 10
THE SUPRAMAX FREIGHT MARKET THIS WEEK REMAINED ALMOST AT LAST WEEK LEVELS - VISTAAR SINGAPORE
COALspot.com: The freight market this week remained almost at same levels except for Panamax index which was up by 191 points.
The feast/SE Asia ...
Friday, 29 October 10
CAPE MARKET STARTED TO BREAK THOUGH THE UPWARDS RESISTANCE LEVEL OF USD 40K DAILY FOR SPOT CARGOS - FEARNLEYS
HANDY
The Atlantic markets remain flat and lackluster. The expectations that the grain ...
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- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Australian Coal Association
- MS Steel International - UAE
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
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