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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, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
Thursday, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
The very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
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- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- The University of Queensland
- Aditya Birla Group - India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- MS Steel International - UAE
- Australian Coal Association
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
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