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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 $30 mil. According to newbuilding sources the deal is at dangerously low levels with the yard hardly making any profit on the deal.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
Wednesday, 03 August 11
DRY BULK MARKET SINKS TO THREE-MONTH LOWS, BUT CAPESIZES COULD TURN THINGS AROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on falling this week, on the back of slow cargo demand amid the summer season. Yesterday, the BDI (Baltic Dry Index), the i ...
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- Minerals Council of Australia
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- MS Steel International - UAE
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
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