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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, 28 September 11
ATLAS RESOURCES TO SELL 25% STAKE IN IPO - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, plans to sell 783.33 m ...
Tuesday, 27 September 11
A STRONG REBOUND FOR THE CAPE MARKET - BRS
A strong rebound for the Cape market, as cargoes continued to flow into the market and tonnage remained tight in the Atlantic, according to Barry Ro ...
Tuesday, 27 September 11
INTRACO SEALS US$25.3 MIO ORDER - INSIDER STORIES
Insider Stories reported that, Heavy equipment distributor PT Intraco Penta Tbk (INTA) obtained a US$25.3 million order on hand of heavy equipments ...
Sunday, 25 September 11
THE CHARTER RATES FOR INDONESIA TO INDIA WAS FIRM - VISTAAR
COALspot.com - The freight market moved up sharply with the cape Index up by 11 pct pushing the BDI by almost 6 pct and closing at 1,920 point ...
Saturday, 24 September 11
GOVT PLANS TO RENEGOTIATE ALL CONTRACTS INCLUDING FREEPORT - JP
The Jakarta Post reported that, the Energy and Mineral Resources Ministry has confirmed plans to renegotiate all mining contracts including those wi ...
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- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- PTC India Limited - India
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
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