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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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Thursday, 24 February 11
DRY BULK MARKET KEEPS LOSING GROUND, CAPESIZES SUFFERING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground yesterday, as the industry’s benchmark, the Baltic Dry Index was rapidly falling, ending the session d ...
Thursday, 24 February 11
SUPRAS ARE FIXED AT CLOSE TO 10K FOR TRIPS VIA INDONESIA TO INDIA WITH COAL - FEARNBULK
Handy
After a short lived surge in rates the Atlantic market has flattened out due to too many spot vessels. The USGulf has cooled down somewhat f ...
Wednesday, 23 February 11
LIMITED AVAILABILITY OF COAL COULD TRIP MEGA POWER PLANT - THE ECONOMIC TIMES
The Economic Times, an Indian leading news paper reported that, an acute shortage of domestic coal is threatening to destabilize new power generatio ...
Wednesday, 23 February 11
DRY BULK MARKET BACK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The two week rise of dry bulk freight rates seems to have come to a halt this week, with the industry’s benchmark, the Baltic Dry Index (BDI) lo ...
Wednesday, 23 February 11
INDONESIA NEEDS TO REVISE EXPORT BAN ON 5600 GAD COAL EXPORT - INDUSTRY
COALspot.com - The Indonesian government may be forced to revise its 2014 timeline for the proposed ban on all low quality coal exports, Patrick Han ...
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- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
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