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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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Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
Saturday, 30 April 11
THE PANAMAX WAS THE BIGGEST GAINER
COALspot.com - The freight market appeared to recover slightly after the Easter holidays. However they market may not move up much and likely to mai ...
Friday, 29 April 11
KOMIPO ISSUES TENDER FOR 710,000 MT OF LCV & HCV COAL
COALspot.com - Korea Midland Power Co. Ltd (KOMIPO) has issued a spot supply tender for supply of total 710,000 MT of thermal coal for delivery betw ...
Friday, 29 April 11
HARUM EYES IDR 2.58 TRILLION COAL TAKEOVER
PT Harum Energy Tbk (HRUM), that is controlled by Indonesian tycoon Kiki Barki, is poised to spend Rp 2.58 trillion (approximately US$ 301.296 mln) ...
Friday, 29 April 11
CHINA'S IMPORTS 27 PERCENT LESS COAL IN Q1 2011 - ICAP SHIPPING
ICAP Shipping reported that, China's coal imports in the first quarter were some 27% down on a year ago at 32.3 Mt (2010: 44.4 Mt). Part of the rea ...
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- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- White Energy Company Limited
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- The University of Queensland
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
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