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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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Tuesday, 09 August 11
DRY BULK MARKET UNABLE TO FIND UPWARD MOMENTUM, SLUMPS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
They same that what goes up must come down and nobody seems to have found a better application of this expression, than the beleguered dry bulk mark ...
Monday, 08 August 11
OIL PRICES ARE SOFTENING, WILL IT INFLUENCE COAL PRICES?
COALspot.com - The current global economic condition is in volatility after a little chance of optimism for economic recovery.
Oil price at ...
Monday, 08 August 11
A SUPRAMAX VESSEL WAS REPORTED FIXED AT $ 12K - VISTAAR
COALspot.com - The BDI was slightly up by about 4 points closed at 1268 points which was supported by cape index which was up 3.14 pct and closed at ...
Saturday, 06 August 11
NTPC IS CONSIDERING TO ENTER INTO 25 YEARS COAL PURCHASE AGREEMENT
Indian, State-run power producer NTPC's present annual consumption is 164 million tonnes, and company is considering long-term agreements abroad to ...
Friday, 05 August 11
RIO TINTO SIGNS MOU WITH JINDAL STEEL AND POWER ON ADVANCING HISMELT TECHNOLOGY
Press Release - Rio Tinto has signed a Memorandum of Understanding (MoU) with Jindal Steel and Power Limited (JSPL) to take the next step in g ...
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- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Planning Commission, India
- The University of Queensland
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
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