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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, 19 April 11
LONDON COMMODITY BROKERS OPENS JOHANNESBURG OFFICE
COALspot.com - London Commodity Brokers (LCB), a broking house specialising in bulk physical and Over-The-Counter commodities and options (coal ...
Tuesday, 19 April 11
TNPL TO CONDUCT E-AUCTION TO SECURE 160,000 MT OF COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL) a state utility of Tamil Nadu, India to conduct reverse auction on 20 April 2011, betw ...
Tuesday, 19 April 11
ADARO TO ALLOT US$100 MIO FOR COKING COAL - INSIDER STORIES
One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) plans to spend US$100 million in coking coal project dubbed IndoMet Coal, a joint ...
Tuesday, 19 April 11
KPCL TO OPEN PRICE BID ON 23 APRIL 2011 TO FINALIZE ITS ONE MILLION MT COAL SUPPLIER
COALspot.com - Karnataka Power Corporation (KPCL) a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 ...
Monday, 18 April 11
INDONESIA HAS SET THE APRIL 2011 COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.02 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the April 2011 Indonesian Coal Reference Price for thermal coal at ...
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- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Australian Coal Association
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Deloitte Consulting - India
- Central Electricity Authority - India
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Economic Council, Georgia
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
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