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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 $30 mil. According to newbuilding sources the deal is at dangerously low levels with the yard hardly making any profit on the deal.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 25 August 11
OPG EXPECTS COAL PRICES TO REMAIN FIRM IN THE SHORT TERM
COALspot.com - Revenue of OPG, the developer and operator of Group Captive power plants in India up 188% to £33.15m and Income from continuing ...
Thursday, 25 August 11
PAITON POWER LOOKING FOR 3.96 MILLION TONS OF COAL
COALspot.com - PT Pembangkit Jawa Bali (PJB) is looking for 3.96 million tons coal with calorific value 4,800 kcal/kg on as received basis. Accordin ...
Tuesday, 23 August 11
ICMA CALLS GOVERNMENT TO REVIEW EXPORT BAN REGULATION
COALspot.com - Chairman of the Indonesian Coal Mining Association (ICMA) Bob Kamandanu asks the government to review the regulation that being draft ...
Tuesday, 23 August 11
ADARO ENERGY ACQUIRES 75% STAKE OF PT MUSTIKA INDAH PERMAI FOR US$ 222.5 MILLION
COALspot.com - PT Alam Tri Abadi, a wholly owned subsidiary of PT Adaro Energy Tbk, signed a share purchase agreement to acquire a 75% stake of PT M ...
Tuesday, 23 August 11
COAL DEMAND IS REMAINED STRONG IN SPITE OF CURRENT GLOBAL ECONOMIC UNCERTAINTY - BUMI
COALspot.com - Indonesia's largest coal producer, PT Bumi Resources, Tbk (BUMI)'s sales revenue has increased to US$1.79 billion (compared with US ...
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- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Planning Commission, India
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
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