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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, 03 September 11
FEW SHIPS REPORTED FIXED FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued the upward trend during last week with BDI up by about 13 pct closing at 1,740 points and cape index up ...
Saturday, 03 September 11
TNPL TO BUY 240K MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure 240,000 MT +/- 5 percent of non-coking imported coal with ...
Thursday, 01 September 11
EWP TO BUY 195KT OF VIETNAM COAL
COALspot.com - Korea Midland Power (KOMIPO) has issued an International open bidding for 490kt of sub bituminous coal, according to a bid invitation ...
Thursday, 01 September 11
DRY BULK MARKET TAKES GREAT LEAP FORWARD - NIKOS ROUSSANOGLOU
In what turned out to be a rather hopeful ending of the month, the last day of August saw the dry bulk market’s benchmark, the BDI (Baltic Dry ...
Tuesday, 30 August 11
FAUJI CEMENT CONSUMED MORE THAN 1 MILLION TONS OF LOCAL COAL
Cooper Minerals Inc.based in Vancouver, BC, Canada, is a junior exploration company engaged in the acquisition, exploration and development of miner ...
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- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- The University of Queensland
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
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