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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, 17 September 10
CWP COAL WASHING PLANTS MACHINERY LANDS ON RUSSIAN MARKET!!
Press Release: CWP Coal Washing Plants Machinery Industry & Trade Co. which was founded in 1990, has been operating in Izmir with its closed pro ...
Friday, 17 September 10
FREIGHT RATES TO DECLINE FURTHER - ICICI SEC
Broking firm ICICI Securities said tanker freight rates reported a sharp drop with rates of Suezmax and Aframax carriers declining by 16% to USD 8,6 ...
Friday, 17 September 10
R-POWER, ADANI, GMR TO BID FOR $1-BN MINE
Reliance Power, Adani Power and GMR are in the race for a coal mine asset in Australia. The valuation of the asset is close to $1 billion (Rs 4,600 ...
Thursday, 16 September 10
RPG GROUP BUYS 10% IN AUSSIE COAL FIRM RESOURCE GENERATION
Dealcurry reported that, India's RPG Group's Integrated Coal Mining Limited (ICML) has acquired 10% stake (18,268,053 shares) in Resource Generati ...
Wednesday, 15 September 10
VIETNAM TO IMPORT UP TO 15 MLN TONS COAL/YR BY 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Vietnam will need to import 3 million to 15 million tons of coal a year by 2015, rising to 21 million to 40 million ...
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- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
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