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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 February 11
SUPRAMAX MARKET IS IMPROVING IN THE PACIFIC
BRS - A 10% rise in the BDI this week, mostly on the back of Panamax rates and improvements in the Supramax market in the Pacific. For the Capes, ra ...
Monday, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
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- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Australian Coal Association
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- PTC India Limited - India
- Petron Corporation, Philippines
- White Energy Company Limited
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
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