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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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Thursday, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
Thursday, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
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- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Australian Coal Association
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Planning Commission, India
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
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