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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, 01 March 11
GANGAVARAM PORT, AN INDIAN MODERN PORT CREATES RECORD
COALspot.com - Gangavaram Port, the deepest and the most modern port in India creates yet another record by discharging 65349 MT Coking Coal in 24 h ...
Monday, 28 February 11
COAL INDIA HIKES PRICES BY 12% FOR SELECT CONSUMERS - ECONOMIC TIMES
Economic Times reported that, Coal India has raised prices by an average 12% for some of its consumers from Sunday, boosting its revenue by 6,000 cr ...
Saturday, 26 February 11
CIL TO HIKE COAL PRICES BY 15 PC FROM TONIGHT - THE TIMES OF INDIA
The Times of India reported that, an Indian State-run coal producer, Coal India will raise the price of coal on an average by about 15 per cent with ...
Saturday, 26 February 11
SUPRAMAX INDEX WAS UP ABOUT 10 PERCENT THIS WEEK - VISTAAR
COALspot.com - The market started on a weak note and seemed to have lost the momentum seen the previous week. The main sectors affected were Cape an ...
Saturday, 26 February 11
PEABODY ENERGY ENTERS INTO COAL SOURCING AGREEMENT ACCESSING INDONESIAN COAL FOR EXPORT
Peabody Energy today said it has entered into an agreement with Indonesia's PT Cahaya Energi Mandiri (CEM) to source 2 million tons of coal for Asi ...
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- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- PTC India Limited - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Economic Council, Georgia
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
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