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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, 12 January 11
BULKER DELIVERIES WEIGHING IN ON FREIGHT RATES KEEPING SENTIMENT ON A NEGATIVE MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of new buildings still hitting the water has caught up for good with the freight market, with capesizes unable to weather the storm. With r ...
Tuesday, 11 January 11
SUPRAMAX TRIP VIA INDONESIA TO INDIA US$ 8,000 PER DAY
Despite continued growth in the bulk trades, the delivery of new vessels is beginning to take its toll. The BDI continued its decline, finishing las ...
Tuesday, 11 January 11
DRY BULK MARKET REACHES NEW LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark index, the Baltic Dry Index (BDI) lost further ground in the beginning of the week, following the trend of the ...
Monday, 10 January 11
MINING INVESTMENT TARGET TOO LOW - TEMPO INTERACTIVE
TEMPO Interactive reported that, the Indonesian Mining Association’s executive director, Priyo Pribadi, believes the government’s invest ...
Monday, 10 January 11
COAL MONGOLIA IS INVITING YOU TO THE INTERNATIONAL COAL SECTOR INVESTORS CONFERENCE
COALspot.com - (Press Release) - The Coal Mongolian Conference will take place at Chinggis Hotel, in Ulaanbaatar on 24-25, Feb 2011. The coal bonanz ...
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- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- The Treasury - Australian Government
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
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