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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 $30 mil. According to newbuilding sources the deal is at dangerously low levels with the yard hardly making any profit on the deal.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 23 July 11
PANAMAX MARKET FACED A LIMITED ACTIVITY IN ALL BASINS
Handy
Atlantic softening across all segments with little fresh enquiry ex Bsea/Cont/USG and ECSA. Trips to Far east remain healthy. More cargoes ex ...
Friday, 22 July 11
MARUBENI ACQUIRING 42.86% SHARE OF YTL JAWA POWER HOLDINGS
COALspot.com - Japan’s Marubeni Corporation acquisition 42.86% stake in YTL Jawa Power Holdings BV, which owns a 35% equity interest in Indone ...
Thursday, 21 July 11
INDIA IMPORTS 36.033 MILLION TONS OF INDONESIAN COAL TILL JUNE
COALspot.com - Indonesia shipped 28.27 Million tons of coal in June 2011, a 2.3 percent lesser than May export of about 28.962 million tons, I ...
Thursday, 21 July 11
COAL PRICES ARE AT US$ 120 A TONNE
COALspot.com - Indonesian coal production in 2011 is expected to reach 360 million tons or 5.8 percent higher than government's forecasts. The incr ...
Thursday, 21 July 11
DRY BULK RATES EDGE FURTHER DOWN ON WEAK MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell once again on Wednesday marking the ninth straight day of losses. The industry’s benchmark, the Baltic Dry Index (BDI ...
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- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- White Energy Company Limited
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
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