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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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Tuesday, 26 October 10
DRY BULK MARKET TO KEEP RISING THIS WEEK ON STRONG CHINESE IRON ORE AND THERMAL COAL DEMAND - HELLENIC SHIPPING
Overcapacitated or not, the dry bulk market keeps its positive momentum as we move forward this week, with the Baltic Dry Index (BDI) rising by 0.77 ...
Monday, 25 October 10
TWO CHINESE COMPANIES INK DEAL TO TAP AUSSIE COAL RESERVES
China Daily reportd that, two Chinese coal firms have teamed up to explore and develop coal resources in an area in Australia that has forecast rese ...
Monday, 25 October 10
DRY BULK MARKET STILL HEAVILY DEPENDENT ON CHINA, POSTS SMALL WEEKLY LOSS OF 1.27% - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With every twitch and turn from China’s metals industry, the dry bulk market is disproportionally affected, as evidenced by the course of the ...
Sunday, 24 October 10
SUPRAMAX VESSELS BEING FIXED AROUND $ 15 K PER DAY DELIVERY N. CHINA FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SHIPPING
COALspot.com: The freight market this week remained almost at same levels with not much change. However the Far East/SE Asia market was quite soft w ...
Saturday, 23 October 10
HEAVY RAINS NO DAMPENER FOR 2010 COAL OUTPUT TARGET, MINISTRY SAYS - THE JAKARTA GLOBE
The Jakarta Globe reported that, National coal production would likely meet the target set by the Energy Ministry despite unusually heavy rain this ...
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- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Central Electricity Authority - India
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
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