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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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Friday, 23 September 11
ICMA TO BUILD UPGRADE FACILITIES TO ANTICIPATE BAN ON LOW-GRADE COAL EXPORT BY 2014
COALspot.com - January to August of this year, Indonesia’s coal production had already reached 235 million tons. Earlier estimates had targete ...
Friday, 23 September 11
UT TO PRODUCE 7 MMT OF COAL BY 2012
PT United Tractors Tbk is targeting a 7 million tons of coal production next year, a 55.55% increase from 4.5 millions targeted this year, said Pres ...
Friday, 23 September 11
RECORD RECYCLING ACTIVITY STIRS OPTIMISM IN DRY BULK SAYS BIMCOS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected at the start of the year, dry bulk ship owners were expected to flock scrapyards around the world, in order to take advantage of attract ...
Friday, 23 September 11
PANAMAX EXPERIENCED A SOFTENING IN RATES - FEARNLEYS AS
Handy
Still a good boost of fresh cargoes entering the market. Vessels in Black Sea with GOA clearance and Baltic positions are fetching tick abov ...
Wednesday, 21 September 11
INDIA'S COAL IMPORTS FROM INDONESIA FALL, CHINA BUYS MORE
COALspot.com - Indian coal imports from Indonesia fall to below 6 million tons in August, and this fall was continuing last few months. Ho ...
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- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- The University of Queensland
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
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