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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, 08 February 11
PUSTAKA JAYA PALU POWER LOOKING FOR 5800 GAD COAL
COALspot.com - According to market information, PT Pustaka Jaya Palu Power, a power plant operator of the Mpanau plant, Palu, Sulawesi has invited c ...
Tuesday, 08 February 11
BAYAN, KANGAROO EXTEND DUE DILIGENCE
Coal miner controlled by businessman Dato' Low Tuck Kwong PT Bayan Resources Tbk (BYAN) and Australia-listed coal company Kangaroo Resources Limite ...
Tuesday, 08 February 11
DRY BULK: IS THE TIDE TURNING? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what could be perceived as a change of market sentiment for the better, the dry bulk industry’s benchmark, the Baltic Dry Index (BDI) poste ...
Monday, 07 February 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 13.03 PERCENT IN FEBRUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the February 2011 Indonesian Coal Reference Price for therma ...
Monday, 07 February 11
COAL PRICES ON RISE: DEMAND FROM INDIA AND CHINA - ANALYZED SUNIL K KUMBHAT
INDONESIA IS HEART OF ASIAN COAL BOOM
COALspot.com - Rising demand of Coal from India and China, coupled with global financial recovery, is driv ...
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- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- The University of Queensland
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
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