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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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Sunday, 17 April 11
THE FREIGHT MARKET APPEARS WILL CONTINUE TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - "The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 p ...
Sunday, 17 April 11
ADARO TO PROPOSE US$75 MILLION DIVIDEND
COALspot.com - One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) is keen to propose a final dividend of US$75 million or Rp 20.17 (U ...
Saturday, 16 April 11
TNPL RECEIVES 1.6MT OF COAL OFFERS - SOURCES
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its 160,000 MT coal inquiry today.
More than a half a dozen of Indian coal t ...
Friday, 15 April 11
DRY BULK MARKET KEEPS ON FALLING, ON LOW DEMAND AND HIGH SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its falling patern this week, with the industry’s benchmark, the Baltic Dry Index (BDI) retreating again yesterda ...
Thursday, 14 April 11
SUPRAS IN N.CHINA GET CLOSE TO $12000 FOR TRIPS VIA INDONESIA TO INDIA - FEARNBULK
Handy
The Atlantic market remains flat - very little new/fresh business and slow activity. Considerable prompt tonnage remains unfixed. The USG pa ...
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- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Parliament of New Zealand
- PTC India Limited - India
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- VISA Power Limited - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Australian Coal Association
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
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