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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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Friday, 01 October 10
COAL TRADERS POWER FOREIGN ASSET BUYS - ECONOMIC TIMES
Economic Times reported that, the rush to own coal assets is leading to innovative alliances. are teaming up with utilities like , Reliance Power an ...
Thursday, 30 September 10
LOW CALORIFIC VALUE COAL MAY BE SOLD BELOW COAL REFERENCE PRICE IN INDONESIA
COALspot.com: Indonesia, the world’s largest coal exporter has issued another ministerial decree to regulate the selling price of coal of Indo ...
Thursday, 30 September 10
INITIAL PHASE OF MOATIZE MINING BY EARLY NOVEMBER - ALL AFRICA
All Africa report that, the initial phase of mining coal at Moatize, in the western Mozambican province of Tete, will begin by early November, and t ...
Thursday, 30 September 10
THE PANAMAX CONTINUED ITS DOWNWARD TREND FROM LAST WEEK - FEARNBULK
HANDY
Activity remains slow this week combined with a lack of fresh enquiry and tonnage over-supply in the Atlantic. Indexes are all negative exce ...
Thursday, 30 September 10
INDONESIAN COAL FOR POWER PLANT - LANKA GAZETTE
Lanka Gazette reported that, A cargo vessel with coal on board to generate electricity for the Norochcholai Coal Power Plant will arrive in Sri Lank ...
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- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Economic Council, Georgia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Australian Coal Association
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Planning Commission, India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
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