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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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Thursday, 20 January 11
DRY BULK MARKETS FALL SEES NO END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index ( ...
Tuesday, 18 January 11
MINISTRY SEEKS COAL FROM INDONESIA - SUNDAY OBSERVER
Sunday Observer reported that, Ministry of Power and Energy is to explore the possibilities of importing quality coal from Indonesia.
Minister Pa ...
Tuesday, 18 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 ...
Sunday, 16 January 11
STANCHART GLOBAL RESEARCH SEES COAL PRICE RISING ON SUPPLY DISRUPTION - BURSA MALAYSIA MARKET NEWS
Bursa Malaysia Market News reported that, Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on ...
Saturday, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
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- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Romanian Commodities Exchange
- Posco Energy - South Korea
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Australian Coal Association
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
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