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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, 16 December 10
LANCO BAGS AUSTRALIAN COAL MINER GRIFFITH - DNA
As part of its strategy to secure coal supplies for meeting its needs in expanding power generation capacities, infrastructure major Lanco Infratech ...
Thursday, 16 December 10
COAL INDIA IN TALKS WITH INDONESIAN CO TO BUY ITS COAL MINES - APN NEWS
APN News reported that, World’s largest coal producer Coal India is in talks with Indonesia’s Sinar Mas Group for acquiring coal mines i ...
Wednesday, 15 December 10
GOVT SETS NEW MINIMUM LEVEL FOR DOMESTIC MARKET SALES - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal producers are required to sell at least 24.17 percent of their production to the domestic market nex ...
Wednesday, 15 December 10
CAPESIZE RATES ARE NOW AT THEIR LOWEST LEVEL SINCE AUGUST
It was a repeat performance for the market this week, with another increase in earnings for the small sizes but a sharp drop for the Capes. Overall ...
Wednesday, 15 December 10
LARGE ORDERBOOK TO HINDER 2011 DRY BULK MARKET REBOUND DESPITE INCREASED DEMAND SAYS PARAGON SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A large orderbook which currently stands at 53% of the existing fleet is expected to render 2011 another challenging year for the dry bulk marke ...
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- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
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