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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, 02 December 10
INDIA'S COAL SHORTAGE TO DEEPEN NEXT YEAR - MONEY CONTROL
Money Control reported that, India's coal deficit will deepen sharply next year, its coal minister said on Tuesday, forcing Asia's third largest e ...
Thursday, 02 December 10
CIL INCHES CLOSER TO PEABODY STAKE DEAL - THE TELEGRAPH INDIA
The Telegraph India reported that, state-run Coal India Ltd (CIL) hopes to complete negotiations to buy over 10 per cent in Australian miner Peabody ...
Thursday, 02 December 10
DRY BULK MARKET WEIGHED DOWN BY CAPESIZE BLUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The negative sentiment currently undergoing in the capesize market has kept the dry bulk market’s benchmark, the Baltic Dry Index (BDI) on the ...
Monday, 29 November 10
NUCLEAR SUPERTANKERS TO SHAKE UP SHIPPING - THIS IS MONEY
This is money reported that, plans are under way that could see nuclear-powered supertankers sailing the world’s shipping lanes, refuelling on ...
Sunday, 28 November 10
FREIGHT MARKET SEEMS TO BE NERVOUS - VISTAAR
COALspot.com - The freight market continued to remain uncertain even though only cape index was down by 8.31 pct.
Overall the market seems to be ...
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- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- The University of Queensland
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
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