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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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- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- VISA Power Limited - India
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
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