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Friday, 02 September 11
CAPESIZE DEMAND LIFTS DRY BULK MARKET ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 In what proves to be the best week of the year for Capesize owners, strong demand has helped propel the dry bulk market to new highs yesterday. The BDI (Baltic Dry Index) was up by 3.89% to 1,682 points, with Capesizes boosting the market again. Yesterday, the Baltic Capesize Index was up by 8.04% and more than 25% since the beginning of the week, to 2,807 points. By contrast, all other ship types and segments were down, with Panamaxes losing 0.25% to 1,624 points (Baltic Panamax Index).
Meanwhile, in the ever so increasingly important for a further recovery of freight rates demolition market, shipbroker Golden Destiny noted that “the uncertainty of global financial markets has a direct impact on the shiprecycling industry. Since the U.S. economy downgrade the volume of activity and scrap prices have eased off significantly with scrap buyers remaining skeptical to commit to new units unless they see the new direction in prices. Scrap prices have fallen by around $30/ldt for the last month in the Indian subcontinent region and owners are struggling to beach their vessels at levels excess $500/ldt. India is now paying less than $500/ldt for dry/general cargo and about $520/ldt for wet cargo. The Ramadan period does not alleviate the current status and there are hopes for a rebound from the end of August.
In Bangladesh, the threat of closure remains, even the official extension of the market till early October, and some owners put off their decision for beaching their vessels in Chittagong. In China, scrap prices have not slipped below $450/ldt and now the price gap with the Indian subcontinent region has narrowed with hopes for more intense activity in the future.
The week ended with 18 vessels reported to have been headed to the scrap yards of total deadweight 740,996 tons. In terms of the reported number of transactions, the demolition activity has been marked with a remarkable 157% rise from previous week’s activity, while there has been a 281% increase of the total deadweight sent for scrap. In terms of scrap rates, the highest scrap rate has been achieved this week for a handysize vessel M/V “EMI S” of 34,913dwt built 1983 with 7,830tons of lightweight at $525/ldt in Bangladesh. Bulk carriers are the most popular scrap candidates recording a 400% weekly increase of scrapping activity. At a similar week in 2010, demolition activity was standing at similar levels, in terms of the reported number of transactions, 18 vessels had been reported for scrap of total deadweight 356,048 tons with tankers, reefers and Ro-Ro carriers being on the frontline comparable with nowadays concentrated interest in the bulk carrier segment . India was offering the best levels by paying $400/ldt for dry/general cargo and $435/ldt for wet cargo” concluded the Piraeus-based shipbroker.
In terms of the second hand market, it has already experienced signs of of significant falls especially for larger size vessels, in the bulk carrier and tanker segment, but it is too early to determine the new benchmark values unless the new transactions are confirmed and others at similar levels follow said the report. “The last week’s rumor for a capesize Imabari resale of 180,000dwt built 2011 to be under negotiations at region mid $40 mil was not finalized as sellers did not lift the subjects. The owner seemed not willing to accept the low sale price since the vessel is said to have been ordered at much higher levels. The week closed again with silent secondhand ship purchasing activity in the bulk carrier segment and stronger buying activity for smaller tankers.
Overall, 18 vessels reported to have changed hands this week at a total invested capital in the region of US$ 139 million, 9 transactions reported at an undisclosed sale price. In terms of the reported number of transactions, the S&P activity is up by 157% from last week’s activity, mainly due to a sharp rise in the tanker buying momentum and up by 63% comparable with previous year’s weekly S&P activity when 11 vessels induced buyers’ interest with tankers and bulk carriers grasping 63% share of the total volume of S&P activity. In terms of invested capital, the tanker segment seems to be the most overweight due to the large volume of transactions concluded. Notable deal of the week in the tanker segment for an aframax auction vessel sale of 115,583dwt built 2005 Japan at region $34,8 million” concluded Golden Destiny.
In terms of the presence from Hellenic ship owners, they appear to be active with a movement reported in the capesize segment for a vessel of 168,968dwt built 1998 South Korea at region $19 mil. In the newbuilding market, Greek owners have still plans for the placement of new units. In the previous week, Transmed is said to have signed a letter of intent (LOI) with STX Offshore Shipbuilding for five MR units plus option for five more at an undisclosed contract price with delivery late 2013. In the LNG segment, Gaslog is said to have extended its order placed earlier in the year by two more LNG 155,000cbm units at Samsung Heavy Industries for delivery in 2013. In addition, in the bulk carrier segment Chartword is said to be in discussions with Chinese yard Shanghai Waigaoqiao Shipbuilding for a bargain deal of two kamsarmax units with option for four more at a price less than $30 mil. According to newbuilding sources the deal is at dangerously low levels with the yard hardly making any profit on the deal.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 10 October 11
MOZAMBIQUE CHANNEL TO BE THE NEW PIRACY HOTSPOT FOR THIS YEAR SAYS MARITIME SECURITY EXPERT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Mozambique Channel, as well as the entrance to the Persian Gulf, are expected to become some of the new pirate hotspots for piracy, says Richard ...
Sunday, 09 October 11
FREIGHT MARKET ENDED WITH A POSITIVE DIRECTION - VISTAAR
COALspot.com - The market ended with a positive note with all the segments up except for handy size. The biggest gainer was Panamax index up by 11 p ...
Saturday, 08 October 11
INDONESIAN MINER PLANS $167M IPO TO FUEL SUMATRA COAL BOOM - JG
The Jakarta Globe reported that, coal miner Atlas Resources aims to raise as much as Rp 1.5 trillion ($167 million) in an initial public offering to ...
Friday, 07 October 11
MINING REGULATIONS , OBSTACLES AND GROWTH : INDIA VS INDONESIA - SUNIL K KUMBHAT
COALspot.com - The Govt of India has passed long pending Mines & Minerals (Regulation and Development) Bill, 2011, which seeks to replace ...
Friday, 07 October 11
$100M FOR EXPANSION INTO KALIMANTAN MINING: AKR
The Jakarta Globe, one of the leading English news paper in Indonesia reported that, AKR Corporindo, a fuel and chemical distributor, has set aside ...
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Showing 5041 to 5045 news of total 6871 |
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- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- The University of Queensland
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
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