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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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Thursday, 30 December 10
DRY BULK MARKET STAYS SUBDUED AT THE END OF 2010 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dy bulk market failed to cheer ship owners across the board as the year draws to an end, thus bringing mixed feelings ahead of 2011. On one hand ...
Thursday, 30 December 10
KANGAROO RESOURCES BUYS INDONESIAN COAL COMPANY
Australian-listed Kangaroo Resources Ltd. said Wednesday it will buy 99% of the Pakar thermal coal project in East Kalimantan, for A$277 million thr ...
Wednesday, 29 December 10
WEATHER IMPACTS RIO TINTO COAL AUSTRALIAS QUEENSLAND OPERATIONS
Press Release - As a result of severe monsoonal rain in central and northern Queensland, force majeure has been declared on coal sales contracts fro ...
Monday, 27 December 10
ANALYSIS: CHINA'S COAL PRODUCTION MISMATCHED WITH DOMESTIC DEMAND
As reported by iStock Analyst, China's coal market has been trapped in a strange cycle. Large coal production bases are facing overcapacity, while ...
Monday, 27 December 10
HUNT FOR OVERSEAS COAL ASSETS TO INTENSIFY - FINANCIAL EXPRESS
Financial Express reported that, With the Indian economy back on the track after the slowdown, merger and acquisition (M&A) activities in the re ...
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- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Parliament of New Zealand
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Economic Council, Georgia
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- The University of Queensland
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
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