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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, 12 July 11
DRY BULK MARKET BEGINS WEEK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was evident by the end of the previous week, the dry bulk market’s growth momentum was about to lose steam, something proven yesterday, whe ...
Monday, 11 July 11
REFLECTIONS ON THE FLEET REACHING ONE BILLION TONNES - CLARKSONS / HELLENIC SHIPPING
“A billion gross tonnes of shipping” has a nice ring to it. It presents the industry as a business of substance, with its 85,000 ships w ...
Sunday, 10 July 11
UNTR PROVIDES US$100 MIO TO TTA - INSIDER STORIES
PT United Tractors Tbk (UNTR) agreed to allocate US$100 million to its coal subsidiary dubbed PT Tuah Turangga Agung (TTA).The US$100 million was pa ...
Sunday, 10 July 11
HARDLY ANY CARGO FROM WC INDIA UNTIL END OF MONSOONS - VISTAAR
COALspot.com - The BDI continued to hold last week and firmed up by 27 points with cape and panama index supporting the BDI.
The BDI closed at 1, ...
Sunday, 10 July 11
PTBA INCREASES SHARES IN COAL TRAIN PROJECT - TEMPO INTERACTIVE
TEMPO Interactive reported that, PT Tambang Batubara Bukit Asam (PTBA) is still studying the plan to buy 20 percent of shares in the PT Bukit Asam T ...
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- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- London Commodity Brokers - England
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- PTC India Limited - India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
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