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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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Friday, 07 January 11
DRY BULK MARKET ON A FREEFALL, AS THE NEW YEAR EARLY DAYS DONT BRING MANY CHEERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is facing its worst slump in more than two years, falling by 4.75% yesterday to reach 1,544 points, on top of an additional 4.2% ...
Thursday, 06 January 11
OVERSEAS & GENERAL SIGNS AGREEMENT TO EXPAND FOOTPRINT ON COAL LEASE IN INDONESIA - PROACTIVE INVESTORS
Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...
Thursday, 06 January 11
BANPU EXPECTS ROSY 2011 AS COAL PRICES SKYROCKET - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...
Thursday, 06 January 11
COKING COAL CONTRACT PRICE MAY RISE 33% ON AUSTRALIAN FLOODS - BLOOMBERG
Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years ...
Wednesday, 05 January 11
HIGHER COAL PRICES LIFT UP COAL STOCKS
Thermal coal price this month has gone up 5.63% to US$127.70 per ton today from mid last month at US$120.89 per ton.
Thermal coal price for next ...
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- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Minerals Council of Australia
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Planning Commission, India
- Bhushan Steel Limited - India
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