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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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Wednesday, 15 December 10
SMALLER DRY BULK VESSELS ARE LOOKING UP, LARGER ONES FAIL TO DELIVER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground at the beginning of the week, in what could prove one of the slowest periods ship owners have been faced. Ye ...
Tuesday, 14 December 10
COAL IMPORTS MAY INCREASE 78% TO CHINA, INDIA: ENERGY MARKETS - BUSINESS WEEK
Business Week reported that, China and India may increase imports of coal by 78 percent to 337 million metric tons next year, further driving up pri ...
Tuesday, 14 December 10
BANPU PLANNING PRODUCTION BOOM - BANGKOK POST
Australian, Indonesian output to lead growth
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, wants to nearly double its coal ...
Tuesday, 14 December 10
THE FREIGHT RATES FROM INDONESIA TO INDIA AND CHINA REMAINED FIRM - CAPT. REDDY
COALspot.com - The freight market continued to be soft with the Cape sector most effected which was down by 289 points and closed at 2,694 poi ...
Monday, 13 December 10
ICE FUTURES EUROPE TO LAUNCH IHS MCCLOSKEY INDONESIAN SUB-BITUMINOUS FOB MARKER COAL CONTRACTS - MONDOVISIONE
Mondovisione reported that, IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over ...
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- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Eastern Energy - Thailand
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- PTC India Limited - India
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
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