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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, 13 December 10
NALCO TO START WORK ON RS 18K CR ($ 4,010,695,091) INDONESIAN PROJECT BY JUNE - MSN
MSN reported that, State-owned NALCO today said it has selected UAE-based RAK Minerals as JV partner for its Rs 18,000 crore (US$ 4,010,695,091 ...
Monday, 13 December 10
DEUTSCHE BANK RAISES COAL FORECASTS ON MARKET SHORTAGE - BLOOMBERG
Deutsche Bank AG raised price forecasts for thermal coal by as much as 17 percent on expectations that a shortage of the fuel will widen over the ne ...
Monday, 13 December 10
K SERA SERA TO SPEND RS325CR TO BUY COAL,OIL & GAS FIRMS STAKE - LIVE MINT
The company might have to dole out around Rs 225 crore (US$ 50,122,522) for picking up the majority stake in the coal mine in Indonesia and around R ...
Thursday, 09 December 10
OVERSUPPLY OF SHIPS BOUND TO KEEP DRY BULK FREIGHT RATES SUBDUED DURING 2011 SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s ...
Thursday, 09 December 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 103.41 PMT FOR DECEMBER DELIVERY
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
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- Anglo American - United Kingdom
- Minerals Council of Australia
- PTC India Limited - India
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
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