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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, 20 October 10
ADANI THE LARGEST COAL IMPORTER OF INDIA IS NEGOTIATING WITH COAL INDIA LIMITED FOR A SUPPLY AGREEMENT - TOP NEWS
Top News reported that, negotitations are very much on between Adani Enterprises, the biggest coal importer of the country and Coal India Limited, t ...
Wednesday, 20 October 10
UAE FIRM IN INDONESIA RAIL DEAL - GULF NEWS
Gulf News reported that, construction of a 140-kilometre railway in Indonesia, initiated by RAK Minerals and Metals Investments (RMMI) will start ne ...
Wednesday, 20 October 10
CAPESIZES FINDING SUPPORT IN IRON ORE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the beginning of the week wasn’t the rosiest one for the dry bulk market, last week proved a cheerful one for dry bulk ship owners, e ...
Saturday, 16 October 10
BDI WAS MARGINALLY UP BY 2.45 PCT LAST WEEK - VISTAAR SHIPPING
COALspot.com: The BDI seemed to lose the moment compared to last week and was marginally by 2.45 pct and closed at 2,762 points.
Also the Cape in ...
Friday, 15 October 10
VALUE ADDED TAX FOR COAL TO RE-INTRODUCE IN INDONESIA
COALspot.com: Indonesian government is drafting a ministerial decree to re-introduce value added tax for coal and mineral. Coalindo weekly news lett ...
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- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- VISA Power Limited - India
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Australian Coal Association
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
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