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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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Tuesday, 14 September 10
MID HIGH TEENS FROM WCI, AND HIGH TEENS FROM ECI TO CHINA - BRS
A fairly flat market for the dry bulk segments this week, although the Panamaxes jumped on the back of strong grain exports in the Atlantic. It ...
Tuesday, 14 September 10
HIGH CHARTERING ACTIVITY NEEDS TO KEEP UP FOR DRY BULK RATES TO REMAIN HIGH
Last week’s increase of spot chartering activity pushed dry bulk freight rates to new highs, after a less than lackluster summer. As a result, ...
Monday, 13 September 10
GLENCORE BUYS STAKE IN MINER BUMI
The Jakarta globe reported that, Switzerland-based Glencore International, the world’s largest commodities trader, has quietly acquired a $200 ...
Monday, 13 September 10
IT'S JAI INDONESIA FOR OUR POWER FIRMS
Indian power producers have been compelled to look abroad for fuel to run upcoming facilities, as domestic generation is unlikely to be able to meet ...
Monday, 13 September 10
CIL IN TALKS WITH SHIPPING CORP TO FORM JV FOR COAL IMPORTS
Shipping Corporation of India, the largest domestic shipping liner, may form a joint venture with Coal India for coal imports, a top company officia ...
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- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- The University of Queensland
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
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