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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, 28 April 11
BALTIC DRY INDEX NUDGES UP AFTER DAYS OF LOSSES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After consecutive falls, the dry bulk freight market, as followed through the Baltic Dry Index, finally caught a breather yesterday, with the BDI ma ...
Wednesday, 27 April 11
KEWESPO CALLS FOR 765KT OF THERMAL COAL
COALspot.com - South Korea's East-West Power Co's (KEWESPO) has issued a tender to buy total 765,000 tonnes of thermal coal for delivery between J ...
Wednesday, 27 April 11
HARUM ENERGY TO PAY RP 659.1B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miner Harum Energy is planning to pay out Rp 659.1 billion (US$76.46 million) in dividends this year ...
Wednesday, 27 April 11
TSIS $5 MILLION PLANT TO START PRODUCING UPGRADED COAL - THE JAKARTA POST
The Jakartapost reported that, PT Total Sinergy International (TSI), in association with Agritrade Resources Limited of Hong Kong, will upgrade its ...
Wednesday, 27 April 11
RAIN CONSIDERS COAL MINES TAKEOVER - INSIDER STORIES
Indonesian's tenth largest coal miner in term of coal concession, PT Resource Alam Indonesia Tbk (KKGI), is considering to acquire several coalmine ...
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- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- PTC India Limited - India
- Eastern Energy - Thailand
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
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