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Wednesday, 19 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, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
Monday, 16 May 11
INDO TAMBANG 1Q SALES REVENUE UP - INSIDER STORIES
Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) ...
Sunday, 15 May 11
THE FREIGHT MARKET REMAINED SOFT - VISTAAR
COALspot.com - "The freight market overall remained soft", said Capt. Reddy, Director of Vistaar Shipping Singapore. He further added, &qu ...
Saturday, 14 May 11
WELSPUN TO ACQUIRE AN INDONESIAN COAL MINE - MEDIA
The India based Welspun Power and Steel Ltd is planning to acquire 456,000 shares in PT Batubara Energy Indonesia, representing 75% interest, accord ...
Saturday, 14 May 11
DRY BULK MARKET ON A DOWNFALL ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what is now pretty clear will be yet another challenging year for dry bulk ship owners, the Baltic Dry Index returned to its usual pattern of dec ...
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- White Energy Company Limited
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Planning Commission, India
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- The University of Queensland
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
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