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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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Monday, 14 March 11
IRON ORE TRADING WORLD EUROPE 2011
Press Release - Strategy and opportunity for miners, steelmakers, end users and the financial community.
The iron ore spot market is growing at a ...
Sunday, 13 March 11
COAL NO LONGER A CHEAP ENERGY SOURCE - THE SUNDAY LEADER
The Sunday Leader reported that, the addition of power generated through coal power to the country’s national grid was initially expected to r ...
Sunday, 13 March 11
THE FREIGHT MARKET SEEMS WILL BE FIRM FOR MARCH AND APRIL - VISTAAR
COALspot.com - The freight market continued to rise with the BDI crossing 1500 points and the cape size index up by 32 pct and all other segments al ...
Friday, 11 March 11
THE HANDY MARKET IS QUITE VOLATILE
Handy
Lacklustre week as the USG is the only bright light with high volumes of petcoke/coal into the Med (paying mid 20´s bss aps USG). Litt ...
Thursday, 10 March 11
DRY BULK MARKET SHOWING SIGNS OF STRONGER RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market jumped by 3.37% yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI), moving up to 1,472 points, levels no ...
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- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- White Energy Company Limited
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
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