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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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Monday, 27 December 10
RIO TINTO EYES AUSTRALIAN COAL MINER - RTE NEWS
Global resources giant Rio Tinto has made a $3.9 billion bid for Australian coal miner Riversdale.
RTE News reported that, Global resources giant ...
Sunday, 26 December 10
ANGLO SELLS AUSTRALIAN COAL ASSETS - BARCELONA NEWS
Barcelona News reported that, Anglo American has sold off undeveloped Australia coal assets for $577 million.
The global resources giant ha ...
Saturday, 25 December 10
FREIGHT MARKET - LOWEST FIXTURES REPORTED SINCE MID 2009 - CAPT. REDDY
COALspot.com - We wish you a Merry Christmas and a Happy New Year 2011.
The holiday season seems to have severely affected the fr ...
Friday, 24 December 10
CIL SHORTLISTS 21 FIRMS TO IMPORT 250 MT COAL - THE HINDU
The Hindu reported that, Coal India plans to import about 250 million tonnes (mt) over the next 10 years to meet the country's growing requirement. ...
Friday, 24 December 10
DRY BULK OWNERS COULD SOON RECONSIDER SCRAPPING OLDER VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market close to its lowest levels in months and indeed close to 2010 lows, ship owners could be heading towards scrapyards in a bi ...
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- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
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