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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, 14 September 11
GOVT SETS SEPTEMBER COAL REFERENCE PRICE AT $116.26 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the September 2011 coal reference price at US$ 116.26 per ton slightly ...
Tuesday, 13 September 11
CAPITAL COSTS OF INDIAN COAL MINING PROJECT - AN ANALYST VIEW
By Mr Dipesh Dipu, Director - Consulting (Mining), Deloitte Touche Tohmatsu India Private Limited
The coal mining sector that has been opened par ...
Tuesday, 13 September 11
INDONESIAS COAL SECTOR EYES 2012 BOOM - JG
The Jakarta Globe, Indonesian English language News paper reported that, Coal production is set to surge next year as coal miners bolster their busi ...
Tuesday, 13 September 11
DRY BULK RALLY MAINTAINS MOMENTUM AT START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum at the start of the week, as the industry’s benchmark, the Baltic Dry Index (BDI) was up by 2.07% ...
Monday, 12 September 11
INDONESIAN GOVERNMENT HAS ALLOCATED MORE COAL FOR 2012
COALspot.com - Indonesian government has increased the domestic market obligation allocation to 82.07 million tons of coal for 2012, which is 4 perc ...
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- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Minerals Council of Australia
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
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