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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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Thursday, 06 October 11
REALM SECURES 51% OF KATINGAN RIA COAL PROJECT IN CENTRAL KALIMANTAN
•Realm secures 51% of PT Katingan Ria Thermal Coal Project in Central Kalimantan
•Realm takes ownership of Kalres Limited
•Acquisit ...
Thursday, 06 October 11
SOUTH EAST ASIAS AGGRESSIVE POWER DEMAND GROWTH WILL REQUIRE INVESTMENT OF US$125 BN BY 2020 - WOOD MACKENZIE
COALspot.com - Wood Mackenzie says that South East Asia’s demand growth for new power generation is so aggressive that new power generation in ...
Thursday, 06 October 11
CHINESE DEMAND FOR COAL IMPORTS TO MODERATE IN 2012 - MISWIN MAHESH
COALspot.com - We expect Chinese demand growth for imported steam coal to moderate over the next year. Steam coal imports into China will modera ...
Wednesday, 05 October 11
MINISTRY STICKING TO RAW COMMODITY EXPORT BAN DESPITE INDUSTRY FEARS - JG
The Jakarta Globe, the one of the leading English news paper in Indonesia, reported that, the details of a controversial new regulation that would b ...
Wednesday, 05 October 11
ATLANTIC AND PACIFIC BASINS BECAME TIGHTER FOR PANAMAX LAST WEEK - BRS
A slump for both the Capes and Panamaxes sent the BDI down 1% this week, falling to 1,899 points.
The Capes saw the greatest movement, sliding - ...
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- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- The University of Queensland
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
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