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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, 08 January 11
AUSTRALIAN FLOODS MAY BOOST RIS COAL SALES - THE JAKARTA POST
The Jakarta Post reported that, Floods inundating Queensland have disrupted Australian coal production, and in turn may offer opportunities for Indo ...
Saturday, 08 January 11
GOVERNMENT REMAINS CAUTIOUS OVER FOREIGN INVESTMENT IN MINING SECTOR - THE JAKARTA GLOBE
The Jakarta Globe reported that, The government expects $3.2 billion of investment to flow into the mining sector this year as foreign investors tur ...
Friday, 07 January 11
14 LARGE-SCALE COAL BASES TO BE BUILT DURING 12TH FIVE-YEAR PLAN - GLOBAL TIMES
During the Twelfth Five-Year Plan period (2011-2015), China aims to build 14 large-scale coal bases, and annex and restructure 20 coal bases in orde ...
Friday, 07 January 11
JSW ENERGY LTD OF INDIA IS LOOKING FOR 45 MILLION TONS OF STEAM COAL FOR 25 YEARS
COALspot.com - Supply of 1.80 mmt (+/- 10%) of steam coal per annum for power plants at Toranagallu and Jaigad.
Accordign to JSWE's websit ...
Friday, 07 January 11
SRI LANKA NEW PORT TO OFFER SHIP FUEL IN MAY - LBO
LOB reported that, The Sri Lanka Ports Authority (SLPA) plans to start bunkering or ship fuel operations at a new port in southern Hambantota in May ...
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- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Australian Coal Association
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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