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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, 21 December 10
CIL TOLD TO SCOUT MINES ABROAD TO BRIDGE COAL DEFICIT - ECONOMIC TIMES
Economic Times reported that, The government asked state-owned CIL to look for acquiring assets abroad to meet the domestic shortfall of coal.
&q ...
Tuesday, 21 December 10
SHIPPING INDUSTRY RECOVERING, BUT STILL HAMPERED BY OVERSUPPLY OF VESSELS AND DEPRESSED FREIGHT RATES - UNCTAD / HELLENIC SHIPPING
International seaborne trade contracted by 4.5 per cent in 2009, reports UNCTAD´s Review of Maritime Transport 2010 . That decline put seaborn ...
Sunday, 19 December 10
SPOT SUPRAMAX VESSELS WERE FIXED AROUND US$ 13,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued to be soft with the BDI down by 96 points and closed at 1,999 points, touching below 2,000 points on Fri ...
Friday, 17 December 10
THE PANAMAX MARKET HAS EXPERIENCED A SOFTER TENDENCY THIS WEEK - FEARNBULK
Handy
Monotonous Atlantic markets with little fresh enquiry in Black Sea/Med/Continent. Large Supras are achieving usd 21/22k for TA rounds - 2/3 ...
Friday, 17 December 10
NALCO SHORTLISTS COAL FIRMS FOR INDONESIA PROJECT - BUSINESS-STANDARD
Business-Standard reported that, State-owned NALCO today said it has shortlisted two firms for supply of coal for its Rs 18,000-crore (US$ 3,953,003 ...
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- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Planning Commission, India
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- The University of Queensland
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
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