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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, 06 March 11
THE S6 ROUTE MAY CONTINUE TO BE FIRM - VISTAAR
COALspot.com - The freight market was firm this week with all indices up. The BDI , Cape Index and Panamax index was up by almost 9 pct where as Sup ...
Friday, 04 March 11
IRON ORE FROM INDIA HAS BEEN QUIET
Handy
Activity has been gradually rising in the Atlantic but it is mostly confined to the USG market. Short period basis redelivery Atlantic has b ...
Thursday, 03 March 11
TNPL INDIA LOOKING FOR 160,000 MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. is seeking to import 160,000 plus minus 5 percent metric tons of non-coking coal with Gross Calo ...
Wednesday, 02 March 11
MIXED FORTUNES FOR DRY BULK OWNERS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the dry bulk market has been on the positive side this week, things still look quite uncertain in the near term, with most owners puzzled a ...
Wednesday, 02 March 11
INDIA, 2ND LARGEST IMPORTER OF INDONESIAN COAL IN 2010
COALspot.com: Indonesia, the world largest coal exporter, shipped 24.68 million tons of coal in January 2011, which was 1.19 percent higher Y-o- ...
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- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Australian Coal Association
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- The University of Queensland
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
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