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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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Saturday, 20 November 10
ITALIAN STEAM COAL MARKET HAS RECOVERED - ITALIAN COAL ASSOCIATION
Press Release - This year Italy will import 17 million tons of steam coal, up 3% from 2009, and 5.5 million tons of coking coal and PCI, up 37% over ...
Friday, 19 November 10
WE'LL THINK ABOUT COAL TOMORROW - ANALYSIS
The future of coal generation in Russia is in question. The largest energy companies have abandoned their initial plans to switch their therma ...
Friday, 19 November 10
DRY BULK MARKET ON THE ROPES WITH BDI PLUNGING TO 2,164 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the panamax markets suffering the most this week, but a ray of hope for the capesize market, which appears to be stabilizing after days of fall ...
Thursday, 18 November 10
WORLD COAL ASSOCIATION WELCOMES NEW CHAIRMAN & SHENHUA GROUP AS NEW MEMBER 17 NOVEMBER 2010
Press Release – The premier global coal industry association marks its 25th anniversary with a new Chairman and welcomes China’s lar ...
Thursday, 18 November 10
MUNDRA PORT AWARDED BEST PRIVATE PORT - COMMODITY ONLINE / HELLENIC SHIPPING
Adani Group owned, Mundra Port has been awarded the Annual Indian Maritime Gateway Award for the Best Private Port of the Year for the third consecu ...
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- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- PTC India Limited - India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
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