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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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Saturday, 10 September 11
THE FREIGHT MARKET LIKELY TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued the upward trend during last week with BDI crossing 1,800 points and closing at 1,838 points up by 5.63 ...
Friday, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equi ...
Friday, 09 September 11
CAPESIZE CAN SECURE USD 17-18K SHORT PERIOD - FEARNBULK
Handy
The US Gulf has remained relatively steady, slightly more activity in the South Atlantic with owners aiming for low to mid USD 20k´s f ...
Thursday, 08 September 11
UKRAINES COAL PRODUCTION TO RISE 8% - IFANDP
Industrial fuels & power reported that, Ukraine will increase its coal output by about 8% this year compared to last year, said the country&rsqu ...
Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Inde ...
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- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- The University of Queensland
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
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