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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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Sunday, 10 July 11
DRY BULK MARKET SHOWING SIGNS OF IMPROVEMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Stronger Capesize demand has helped propel the dry bulk market forward this week, with the Baltic Dry Index (BDI) ending yesterday’s session u ...
Sunday, 10 July 11
INDONESIAN BAYAN RESOURCES TO SUPPLY 100 MILLION TONS OF COAL TO INDIAN UNIVERSAL SUCCESS ENTERPRISES LIMITED
Coal miner PT Bayan Resources Tbk (BYAN), that is owned by Dato' Low Tuck Kwong, has entered into a conditional sales and purchase agreement to sup ...
Thursday, 07 July 11
BELOW 5100 COAL WILL BE BANNED FOR EXPORT BY 12 JANUARY 2014
COALspot.com - Indonesian government is in the process of drafting an amendment for government regulation 23/ 2010.
GR 23/2010 has issued to sup ...
Wednesday, 06 July 11
ATLAS RESOURCES TO OFFLOAD 17 PERCENT IPO - INSIDER STORIES
Coking and thermal coal miner PT Atlas Energi Resources aims to offload 17percent new shares of its enlarged capital after Eid-Fitri holidays, as qu ...
Tuesday, 05 July 11
UNTR REVISES UP SALES TO 7,500 UNITS - INSIDER STORIES
PT United Tractors Tbk (UNTR), distributor of Komatsu heavy equipment and parent of PT Pamapersada Nusantara, has revised up its equipment sales tar ...
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- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
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