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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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Friday, 11 February 11
DRY BULK MARKET HEATING UP ON FRESH CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is on a high this week, with owners of smaller vessels turning their attention towards the spot market, in order to take advanta ...
Thursday, 10 February 11
SUPRA RATES IMPROVED A LITTLE OVER US$ 6K BSS N. CHINA DELIVERY FOR INDO-INDIA AND THAILAND ROUNDS - FEARNBULK
Handy
Atl is still weak with little fresh enquiry and an accumulation of spot tonnage.Owners are reluctant to send tonnage thru Suez due to uncert ...
Thursday, 10 February 11
BUKIT ASAM EXPECTS ABOVE RP 3 TRIO PROFIT
The state-owned coal miner PT Tambang Bukit Asam Tbk (PTBA) expects to reach 2011's net profit above Rp 3 trillion (US$ 336,322,568) from above Rp2 ...
Wednesday, 09 February 11
INDONESIA ALLOWED 60 COAL TRADING COMPANIES TO EXPORT COAL
COALspot.com - A temporary ban imposed on coal traders in January has lifted this week. As of today 60coal trading companies were allowed to resume ...
Tuesday, 08 February 11
INDIA'S SIMHAPURU TARGETS S.AFRICAN COAL - ECONOMIC TIMES
Economic Times reported that, India's Simhapuri Energy , a unit of the Madhucon Group , wants to buy new or existing collieries in South Africa fro ...
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- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Planning Commission, India
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
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