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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, 19 July 11
82 MIO TONS OF COAL TO BE SUPPLIED FOR DOMESTIC MARKET
Indonesian Coal miners were required to supply 82 million tons of coal to Domestic market in this year. This is a 2.53 percent higher than last year ...
Monday, 18 July 11
IMFA BUYS A INDONESIAN COAL MINE FOR USD 8.7 M
Indian Metals and Ferro Alloys (IMFA), the largest producer of ferro chrome in the country, today said it has acquired 70 per cent stake in an Indones ...
Sunday, 17 July 11
THE COAL PRICES ARE SOFTENING DUE TO LESS DEMAND - VISTAAR
COALspot.com: The markets were down last week with BDI down by 6.63 points and closing at 1,353 points. The most affected was Cape index which was d ...
Friday, 15 July 11
DRY BULK MARKET SUFFERS NEW BLOW, RETREATS EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell even lower yesterday on the back of lower demand for larger vessels, like Capesizes and Panamaxes. The industry’s ben ...
Friday, 15 July 11
BUKIT ASAM 1H COAL SALES UP 44 PERCENT
The state-controlled PT Tambang Batubara Bukit Asam Tbk (PTBA) is estimated to post 6.5 million tons of coal sales in the first half of this year, a ...
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- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Planning Commission, India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
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