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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, 05 January 11
BUKIT ASAM TARGETS 20% BUY TO GROW COAL TRANSPORT CAPACITY - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesian coal producer Tambang Batubara Bukit Asam is considering buying an additional 20 percent stake in Bukit ...
Wednesday, 05 January 11
FLOODING IN AUSTRALIA WILL CAUSE COAL PRICES TO SPIKE AT LEAST 20 PERCENT
Rising coal prices are set to spike at least 20 per cent higher because of supply shortages due to severe flooding in Australia, adding cost pressur ...
Wednesday, 05 January 11
DRY BULK MARKET BEGINS NEW YEAR ON SOUR NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Seasonal factors like the worst flooding in Australia’s Queensland in half a century, coupled with thin trade activity has put the dry bulk ma ...
Tuesday, 04 January 11
THE WCI-CHINA ROUTE WAS TRADED IN THE MID US$ 10,000S - BRS DRY BULK
As reported by BRS Dry Bulk, after a stronger than expected performance in 2010, rates finished on a sombre note in December with the BDI at1,773 po ...
Tuesday, 04 January 11
BALI, INDONESIA HOST OF WORLD RENEWABLE ENERGY AND ENERGY EFFICIENCY CONFERENCE
Press Release - Indonesian Renewable Energy Society (METI – IRES) has launched the plan for organizing the international gathering ...
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- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Parliament of New Zealand
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- PowerSource Philippines DevCo
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