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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, 15 January 11
MAKE SACRIFICES TO SAVE PLN, INDONESIA GOVT BEGS MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Darwin Zahedi Saleh, Indonesia's minister of energy and mineral resources, on Friday appealed to local coal compan ...
Saturday, 15 January 11
RISING PRICES, GOVERNMENT DECREE LEAVE PLN AT LOGGERHEADS WITH COAL FIRMS - THE JAKARTA GLOBE
The Jakarta Globe reported that, As coal prices continue to increase, state utility Perusahaan Listrik Negara faces problems in securing enough coal ...
Thursday, 13 January 11
SURGING COAL PRICES UNDERMINE PLN'S EFFICIENCY PROGRAM - THE JAKARTA POST
The Jakarta Post reported that, The soaring global coal prices are undermining state electricity company PT PLN's pledge to improve its operational ...
Thursday, 13 January 11
SPML INFRA TO DOUBLE INDONESIA COAL MINE OUTPUT IN TWO YEARS - DNA INDIA
DNA India reported that, Kolkata-based infrastructure company SPML Infra, formerly Subhash Projects & Marketing Ltd, will in two years nearly do ...
Thursday, 13 January 11
DRY BULK RATES HIT NEW MULTI-MONTH LOWS ON AUSTRALIAS FLOODS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Floods in Australia’s Queensland has seriously disrupted coal shipments and together with a flood of vessels has pushed freight rates for dry ...
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- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- The University of Queensland
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
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