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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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Monday, 11 October 10
COAL IMPORTS TO START IN 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Viet Nam is now likely to import coal only from 2015, not 2013 as earlier forecast since many thermal power pl ...
Monday, 11 October 10
OCTOBER INDONESIAN COAL PRICE REFERENCE UP BY 2.92 PERCENT
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Saturday, 09 October 10
MPPGCL SEEKS TO BUY 0.40 MLN MT OF COAL FOR ITS THERMAL POWER STATIONS
COALspot.com: India's Madhya Pradesh Generating Company Limited (MPPGCL), Jabalpur, Madhya Pradesh invites bidders through tender 07-03/Import/Coal ...
Saturday, 09 October 10
FREIGHT MARKET IS EXPECTED TO FIRM UP NEXT WEEK CAPT REDDY
COALspot.com: Inspite of Chinese holidays the BDI was up by 10 pct and closed at 2,696 points. The cape index shot up to 20 pct and closed at 4,076 ...
Saturday, 09 October 10
9TH ASIA PACIFIC MINING CONFERENCE & EXHIBITION 13 14 OCTOBER 2010 AT SHANGRI-LA HOTEL, JAKARTA.
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
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- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Australian Coal Association
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
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