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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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Tuesday, 04 January 11
DRY BULK MARKET TO RANGE BETWEEN 1,700 AND 2,600 POINTS IN THE FIRST QUARTER OF 2011, ANALYSTS SAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As we entered 2011, ship owners and analysts, as well as shipbrokers are looking into their “crystal balls” to try to decode the dry bul ...
Monday, 03 January 11
TAXATION FOR COAL MINING COMPANIES IN INDONESIA - A TAX EXPERTS VIEW
COALspot.com - Mrs. Sri Wahyuni Sujono, managing partner of SF Consulting has wrote an exclusive report regarding taxation for coal mining companies ...
Sunday, 02 January 11
JAISWAL TO SEEK COAL MINES IN AFRICA - HINDUSTAN TIMES
Coal Minister Sriprakash Jaiswal will talk with his counterparts in South Africa and Mozambique during his visit from January 5 to secure coal asset ...
Saturday, 01 January 11
COAL PRODUCTION EXPECTED TO EXCEED 340 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce 340 million tons of coal in 2011, an increase of 23 percent from 275 millio ...
Friday, 31 December 10
STC TO FINALIZE 12 MILLION MT OF COAL IMPORT CONTRACT TO TWO INDIAN AND A DUBAI BASED COAL TRADER - SOURCES
COALspot.com - World's single largest coal import tender floated by STC on behalf of state utility NTPC to finalize its suppliers or already finali ...
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- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- White Energy Company Limited
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
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