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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 $30 mil. According to newbuilding sources the deal is at dangerously low levels with the yard hardly making any profit on the deal.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 14 July 11
INDO GOVT. SETS JULY COAL REFERENCE PRICE AT US$ 118.24 PER TON
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia sets coal spot price benchmark for July 2011 at US$ 118.24 per ton, US$ 0 ...
Thursday, 14 July 11
DRY BULK MARKET KEEPS FALLING ON WEAK CAPESIZE SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on retreating on Wednesday, with the Baltic Dry Index (BDI) falling to 1,383 points, from 1,411 of the previous day. Capesi ...
Thursday, 14 July 11
UNITED TRACTORS BUYS DUTA SEJAHTERA - INSIDER STORIES
Insider Stories reported that, PT United Tractors Tbk (UNTR), via a wholly-owned subsidiary PT Tuah Turangga Agung, will acquire PT Duta Sejahtera a ...
Wednesday, 13 July 11
ANOTHER FIRMER WEEK FOR THE CAPES - BRS
Barry Rogliano Salles reported that, there were mixed results for the dry bulk market this week: the Capesize and Panamax markets performed well gai ...
Tuesday, 12 July 11
INDONESIAN MINERS PLAN $70M INVESTMENT TO UPGRADE QUALITY OF COAL - THE JAKARTA GLOBE
One of the leading english language news paper in indonesia, the Jakarta globe reported that, as the government implements a ban on the export of po ...
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- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
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