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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, 30 September 10
DRY BULK MARKET HEADS SOUTH ONCE MORE WITH MARKET SENTIMENT TAKING A CAUTIOUS APPROACH - HELLENIC SHIPPING
The dry bulk market didn’t manage to maintain the slightly upward momentum it had established during the first two session of the week, with t ...
Wednesday, 29 September 10
MOZAMBIQUE: COAL IN THREE MORE TETE DISTRICTS
All africa reported that, Coal deposits have been confirmed in the districts of Changara, Cahora Bassa and Magoe, in the western Mozambican province ...
Tuesday, 28 September 10
MMTC TO AWARD CONTRACT TO CEPL AND KNOWLEDGE TO SUPPLY 0.835 MILLION TONS OF IMPORTED COAL
COALspot.com: MMTC, India’s state owned trading company has opened three coal purchase tenders today.
According to our market sources, Coas ...
Monday, 27 September 10
DRY BULK: FREIGHT RATES CONTINUE TO FALL ON LOW ACTIVITY - HELLENIC SHIPPING
The dry bulk market didn’t manage to change its fortunes during the past week, with holidays across many Asian countries, predominantly China, ...
Saturday, 25 September 10
INDONESIA HAS EXPORTED 187.656 MILLION TONNES OF COAL IN EIGHT MONTHS
COALspot.com: Indonesia, the world largest coal exporter has exported 187.656 million tons of coal for the period January – August this ...
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- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- White Energy Company Limited
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Minerals Council of Australia
- Latin American Coal - Colombia
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