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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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Saturday, 29 January 11
ANTAM ACQUIRES SAROLANGUN COAL MINING
According to Insider Stories, Nickel and gold miner PT Aneka Tambang Tbk (Antam) of Indonesia via its subsidiary PT Indonesia Coal Resources (ICR) h ...
Friday, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Friday, 28 January 11
DRY BULK MARKET CLOSING IN TOWARDS CRISIS LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
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- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- CNBM International Corporation - China
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
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