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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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Wednesday, 13 April 11
CAPESIZE VESSELS ARE DELIVERED AT A PACE OF ONE NEW VESSEL EVERY SECOND DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a clear sign that it will take a significant rise in global seaborne dry bulk trade in order to be able to absorb the flurry of new building tonn ...
Sunday, 10 April 11
SOFT FREIGHT MARKET TREND LIKELY TO BE CONTINUED - VISTAAR SHIPPING
COALspot.com - The freight market continued to soften further with the BDI breaking the 1,500 points and closing at 1376 points down by almost 10 pc ...
Thursday, 07 April 11
HANDY RATES SLIDING NOW - FEARNBULK
Handy
Slowly softening rates as more tonnage is accumulating in the Atlantic basin.The trans-Atlantic round is around $15k pd with trips to ...
Thursday, 07 April 11
DRY BULK MARKET PLUNGING EVEN FURTHER ON LOW CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its falling pattern this week, with every day proving to be painful for ship owners, especially those of the large ...
Thursday, 07 April 11
INDIKA BUYS MITRABAHTERA AT US$ 0.183
PT Indika Energy Tbk (INDY), integrated energy company, today has exercised an option agreement to acquire 51% shareholding in newly listed coal tug ...
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- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Planning Commission, India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
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