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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, 08 November 10
INDONESIAN HBA HAS INCREASED TO $ 95.51 PER TON FOR NOVEMBER LOADING
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Sunday, 07 November 10
THE SUPRAMAX INDEX IN THE FAR EAST CONTINUED TO BE UNDER PRESSURE - CAPT. REDDY
COALspot.com: The freight market continued to remain soft and all segments were down by almost about 6 pct.
The BDI and Cape Size index was down ...
Saturday, 06 November 10
DRY BULK MARKET LACKING SUPPORT TO SUSTAIN CURRENT LEVELS, BUT PANAMAX OWNERS ARE MORE FORTUNATE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Posting its fifth straight losing session, the dry bulk market benchmark, the BDI (Baltic Dry Index) was down yesterday by another 1.26% to 2510 poi ...
Friday, 05 November 10
RI COAL EXPORT PROSPECTS STILL BRIGHT - THE JAKARTA POST
The Jakarta Post reported that, Indonesia, already the world’s largest exporter of seaborne thermal coal since 2005, will continue to be a maj ...
Thursday, 04 November 10
CAPE SIZE SENTIMENT FOR THIS WEEK WAS NEGATIVE - FEARNBULK
Handy
The Atlantic markets remain flat and lackluster. High volume of tonnage availabi ...
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- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Romanian Commodities Exchange
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- PTC India Limited - India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
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