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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, 26 March 11
FLSMIDTH WINS MULTIMILLION DOLLAR MATERIAL HANDLING PROJECT IN INDONESIA
FLSmidth has signed a contract in Jakarta worth in excess of USD 135m (DKK 700m) with PT Adaro Indonesia, a subsidiary of PT Adaro Energy Tbk., to s ...
Saturday, 26 March 11
ADARO AIMS TO DOUBLE COAL PRODUCTION -THE JAKARTA POST
The Jakarta Post reported that, coal producer PT Adaro Indonesia is planning to soon boost its production capacity to 80 million tons annually, almo ...
Friday, 25 March 11
KNOWLEDGE INFRASTRUCTURE TO BAG 160,000 MT COAL SUPPLY ORDER FROM TNPL
COALspot.com - Delhi based Knowledge infrastructure Systems Pvt. Ltd offered lowest price of US$ 97.10 per metric ton for calorific value of 6000 GA ...
Friday, 25 March 11
THE CAPESIZE MARKET CONTINUED TO FALL - FEARNBULK
Handy
The Atlantic market remains stable with more activity from the Black Sea to Feast paying in the mid 20´s on supras.
The USG remain ...
Friday, 25 March 11
BORNEO ENERGI FY10 NET INCOME SOARS - INSIDER STORIES
Coking coal producer PT Borneo Lumbung Energi Tbk (BORN) booked a skyrocket net income by 499.72% from net loss position in 2009, as quoted by Insid ...
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- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Australian Coal Association
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
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