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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 $30 mil. According to newbuilding sources the deal is at dangerously low levels with the yard hardly making any profit on the deal.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 15 September 11
INDIAN GOVT PLANS TO DEVELOP 9 NEW MAJOR PORTS BY 2016 - INVEST MONEY / HELLENIC SHIPPING
The government has announced to make a investment of more than Rs 22,000 crore (approximately US$ 4,623,791,331) to develop nine new major ...
Thursday, 15 September 11
BOTSWANA COAL AND ENERGY CONFERENCE 2011
Press Release - Botswana Coal and Energy Conference 2011 | 29-30 November 2011 | Gaborone. Botswana represents Africa’s exciting new coal and ...
Thursday, 15 September 11
DRY BULK MARKET EDGING FURTHER UP THE SCALE, CLOSING IN ON 2,000 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was up once again yesterday, reaching 1,927 points, or 1.375 higher on the day. Thus, it has kept its rising trend established d ...
Wednesday, 14 September 11
INDO STRAITS BAGS 2.4 MILLION TON COAL TRANSPORTATION CONTRACT FROM ARUTMIN
COALspot.com - PT Indo Straits Tbk (PTIS) bagged a contract to tranship about 2.40 million tons of coal over an initial period of 6 months fro ...
Wednesday, 14 September 11
DUTA PERTIWI DISCOVERS COAL RESERVE - INSIDER STORIES
Insider Stories reported that, PT Duta Pertiwi Nusantara Tbk (DPNS) yesterday steeply jumped 24.56% to Rp710 a share after the company discove ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- PTC India Limited - India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
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