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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, 21 October 10
WORLDS FIRST, SINGAPORE EXCHANGE TO CLEAR OTC INDONESIAN COAL SWAP - MONDOVISIONE
Mondovisione reported that, Singapore Exchange (SGX) will be the first exchange in the world to clear over-the-counter (OTC) Indonesian Sub-Bitumino ...
Thursday, 21 October 10
MEC WOOS INDIAN POWER FIRMS FOR 50% STAKE SALE - BUSINESS STANDARD
Business-Standard reported that, Singapore-based MEC Coal plans to rope in an Indian power company as a 50 per cent equity partner. It is believed t ...
Thursday, 21 October 10
CAPESIZE, A FANTASTIC WEEK WITH IMPROVED RATES IN BOTH BASINS - FEARNBULK
Handy Activity remains slow this week combined with a lack of fresh enquiry in the Atlantic. Indexes are all negative except Cape but it is worth no ...
Wednesday, 20 October 10
BLENDING OF IMPORTED COAL AT THERMAL PLANT UP TO 30 % MAY BE ALLOWED - PUNJAB NEWS LINE
Punjab News Line reported that, Indian government is considering allowing increase in the blending ratio of imported coal from 10 to 30 percent at t ...
Wednesday, 20 October 10
CANADIAN CHALLENGER ACQUIRES INDONESIAN COAL PROJECT
COALspot.com (Press Release): According to Challenger Deep Resources Corp's website and press release posted on the site, Challenger Deep Res ...
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- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- The University of Queensland
- Larsen & Toubro Limited - India
- Australian Coal Association
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- PTC India Limited - India
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- White Energy Company Limited
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
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