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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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Wednesday, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had pass ...
Tuesday, 25 January 11
DRY BULK RATES CONTINUED TO TUMBLE LAST WEEK - BRS
With weather-related problems affecting the short-term outlook, and new building deliveries the longer-term picture, dry bulk rates continued to tum ...
Tuesday, 25 January 11
R-POWER TO INVEST $5BN IN INDONESIA - THE TIMES OF INDIA
The Times of India reported that, In what is being seen as one of the largest foreign investments in Indonesia, Reliance Power will infuse $5 billio ...
Monday, 24 January 11
GOVT PROMISES COAL FOR PLN DESPITE PRICE SPIKES - THE JAKARTA POST
The Jakarta Post reported that, the government says state electricity company PT PLN will receive enough coal to fire its power plants, despite pric ...
Monday, 24 January 11
DRY BULK MARKETS DOWNTURN SEES NO RELIEF - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79 ...
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- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Australian Coal Association
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- London Commodity Brokers - England
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- PTC India Limited - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
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