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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 $30 mil. According to newbuilding sources the deal is at dangerously low levels with the yard hardly making any profit on the deal.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 26 July 11
UT'S SALES COULD REACH TO 8000 UNITS BY THE END OF 2011
COALspot.com - Sales of Komatsu heavy equipment in the domestic market in the first half of 2011 rose 59 percent to 4333 units compared to the same ...
Monday, 25 July 11
INDONESIA STATE ELECTRICITY COMPANY HAS BURNED 19 MMT OF COAL FOR FIRST HALF OF 2011
COALspot.com - Indonesia's State Electricity Company and other IPPs have burned 19 million tons of coal for first half of this year said,Pamudji Nu ...
Monday, 25 July 11
AKR CORPORINDO TO PRODUCE 0.3 MMT OF COAL BY DECEMBER
COALspot.com - PT AKR Corporindo (AKRA) began producing coal from its mine in Muara Teweh, Central Kalimantan. The company is targeting to pro ...
Sunday, 24 July 11
AN INDIAN PORT SETS A WORLD RECORD FOR CONVENTIONAL COAL DISCHARGE
COALspot.com - Krishnapatnam Port has set a World record for discharging 106,171 tons of steam coal in just 24 hrs using the conventional unloading sy ...
Saturday, 23 July 11
FAR EAST /SE ASIA ROUTE GAINED US$ 3000 HIGHER THAN LAST WEEK - VISTAAR
COALspot.com - The BDI further softened to by 2.22 pct and closed at 1323 points. The Cape and Panamax index also softened and closed at 1841 points ...
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- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- CNBM International Corporation - China
- White Energy Company Limited
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
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