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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, 22 March 11
KRISHNAPATNAM PORT SETS ALL INDIA RECORD FOR COAL DISCHARGING
COALspot.com - "Krishnapatnam Port has set an all India record for discharging 71,587 tons of steam coal in just 24 hrs using the conventional ...
Sunday, 20 March 11
FREIGHT MARKETS COULD SOFTEN NEXT WEEK DUE TO JAPANESE PORTS CLOSURE AND LIBYAN CRISIS - VISTAAR
COALspot.com - The BDI was down by 1.98 pct (closing at 1531 points) mainly due to Cape index which was down by almost 11 pct and closed 1687 points ...
Friday, 18 March 11
FALL IN INDONESIAN COAL EXPORTS IN FEBRUARY 11
COALspot.com - Indonesian coal exports seen a fall of 10.76% during Feb 2011. The world’s largest coal exporter shipped 22.029 MMts of c ...
Thursday, 17 March 11
THE PACIFIC HANDY MARKET IS CURRENTLY STEADY - FEARNBULK
Handy
The Atlantic market is showing signs of recovery and does not seem to be affected by the Japan disaster. The market is very positional and i ...
Tuesday, 15 March 11
COAL PRODUCTION FORECAST TO SURGE ON RISING PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal production is forecast to increase by 20 percent this year as coal prices continue to ...
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- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Australian Coal Association
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
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