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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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- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Planning Commission, India
- Electricity Generating Authority of Thailand
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