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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 $30 mil. According to newbuilding sources the deal is at dangerously low levels with the yard hardly making any profit on the deal.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 28 August 11
FREIGHT MARKET COULD BE FIRM NEXT MONTH - VISTAAR
COALspot.com - The freight market continued the upward trend first half of the week . However, towards the end of the week lost momentum and the BDI ...
Saturday, 27 August 11
JAPANESE BULK CARRIER SETS RECORD ON NORTHERN SEA ROUTE - BARENTS OBSERVER
The Northern Sea Route will see its third record in less than a month when the largest ever bulk carrier to take the route leaves Murmansk next week ...
Saturday, 27 August 11
RBCT-INDIA ROUNDS FIXED AT AROUND US$ 12K - FEARNBULK
Handy
Stable but very positional markets across all segments in the Atlantic: the gap between owners and charterers rate ideas is building up as o ...
Friday, 26 August 11
TUAH TURANGGA AGUNG ACQUIRES AN ADDITIONAL 40% SHARES IN BARA PRIMA AGUNG
COALspot.com - PT Tuah Turangga Agung, a subsidiary of PT United Tractors Tbk, has signed an acquisition agreement to acquire 40% of PT Bara Prima A ...
Friday, 26 August 11
INTRACO EYES US$200 MIO COAL TAKEOVER - INSIDER STORIES
Heavy equipment distributor PT Intraco Penta Tbk, that was founded by Halex Halim, is scouting a coal acquisition with the valuation above US$200 mi ...
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Showing 5111 to 5115 news of total 6871 |
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- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Planning Commission, India
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Minerals Council of Australia
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Australian Coal Association
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
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