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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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Wednesday, 05 October 11
WITH CHINA ON HOLIDAY, DRY BULK MARKET REMAINS STAGNANT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has remained to healthy levels after last month’s rally, but with China going on holiday this week, things are looking sta ...
Tuesday, 04 October 11
INDONESIA RAISES COAL BENCHMARK (HBA) FOR FIRST TIME IN 4 MONTHS
COALspot.com - Indonesia raised the monthly reference price for sales in October by 2.56 percent, the first increase since June.
The Ministry of ...
Tuesday, 04 October 11
COAL MINING GROUP WANTS EXPORT TAX, NOT EXCISE - JG
One of the leading English news paper in Indonesia, The Jakarta Globe reported that, the government shall reimpose a duty on coal exports, classifyi ...
Sunday, 02 October 11
INDIAN COAL IMPORTS PICKED UP - CAPT. REDDY
COALspot.com - The BDI dropped by 1 pct and Cape index dropped by 6 pct closing at 1,899 points and 3,136 points respectively. However all other seg ...
Saturday, 01 October 11
2012 TO BE ANOTHER CHALLENGING YEAR - CEO, REMI MARITIME
Shipowners are facing another challenging year in 2012 said Mr. Leonidas Polemis CEO of Remi Maritime Corporation, urging caution towards operating ...
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- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- The University of Queensland
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
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