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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, 14 October 10
COAL PRICES AT QINHUANGDAO PORT UP - CAPITALVUE
Capitalvue reported that, prices of steam coal yielding 5,500 kilocalories per kilogram (kcal/kg) in Qinhuangdao Port have risen five yuan to 715-72 ...
Thursday, 14 October 10
DRY BULK MARKET MAINTAINS POSITIVE TREND ON FIRMER CHINESE IRON ORE DEMAND
The dry bulk market has kept its upward trend set since last week, with the industry’s main benchmark, the Baltic Dry Index (BDI) rising to 2, ...
Tuesday, 12 October 10
DRY BULK MARKET LOOKING FOR DIRECTION AFTER WEEK OF CAPESIZE GROWTH
The dry bulk market ended Monday unchanged from Friday’s closing, today standing at 2,695 points. In summary, the capesize and the supramax se ...
Tuesday, 12 October 10
COAL SPOT TRADING MAY SOOTH PRICING CONFLICTS - GLOBAL TIMES
Global Times reported that, Tianjin-based Bohai Commodity Exchange launched steam coal for spot trading for the first time Monday. Steam coal is mai ...
Monday, 11 October 10
INDONESIAN POWER PLANTS AND OTHER INDUSTRIES TO BURN 78.97 MLN TONS OF COAL IN 2011
COALspot.com: The Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree 2360 K/30/MEM/ 2010 related to Domestic mark ...
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- White Energy Company Limited
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
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