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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, 04 October 10
2 BLN TONS OF COAL RESERVES DISCOVERED IN SOUTHERN PAKISTAN - XINHUA / HELLENIC SHIPPING
Xinhua and Hellenic Shipping reporte dhtat, the discovery of at least two billion tons of usable coal reserves has been confirmed in one of the ...
Sunday, 03 October 10
THE BDI WAS JUST INCREASED BY 8 POINTS AND CLOSED AT 2452 POINTS LAST FRIDAY - VISTAAR
COALspot.com: The BDI was almost at same levels and just increased by 8 points and closed at 2452 points , however the cape index was up by al ...
Sunday, 03 October 10
NALCO TO FINALIZE INDONESIA COAL DEAL BY JANUARY - HINDUSTAN TIMES
HindustanTimes reported that, state-owned National Aluminium Company (NALCO) will finalise a deal with a coal source in Indonesia for its $4 billion ...
Sunday, 03 October 10
INDONESIA WILL BECOME A NET IMPORTER OF ENERGY IN 2030 - BPPT
Jakarta Updates reported that,Indonesian Agency for the Assessment and Application of Technology (BPPT) predicted that the energy situation in Indon ...
Saturday, 02 October 10
FOUR INDONESIAN COAL FIRMS KEEN TO TIE UP WITH NALCO - SIFY
Sify reported that, Four Indonesian coal companies have shown interest to tie up with public sector National Aluminium Company (Nalco) for its 4 bil ...
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- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
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