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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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Wednesday, 22 June 11
BOOMING INDONESIAN COAL EXPORTS - BLEEDING INDIAN POWER INDUSTRY
COALspot.com - Indonesia shipped 28.962 Million tons of coal in May 2011, up by 15.86 percent compared to April export of about 24.995 m ...
Tuesday, 21 June 11
SURGE IN PRODUCTION AND PRICES TO PUSH BUKIT ASAMS NET PROFITS ABOVE RP 3T - THE JAKARTA GLOBE
State-owned coal company Perusahaan Tambang Batubara Bukit Asam expects its net income to increase about 50 percent this year on the back of rising ...
Tuesday, 21 June 11
COURT BATTLE PUTS MASSIVE COAL PROJECT IN JEOPARDY - KOREA JOONGANG DAILY
As Korean companies race to exploit Indonesia’s abundant natural resources, two companies have been locked in a court case that has become so ...
Tuesday, 21 June 11
DRY BULK MARKET TURNS RED AGAIN ON VESSEL OVERSUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk entered this week on a negative turn, with the industry’s benchmark the Baltic Dry Index (BDI) retreating by 0.35% to end the ses ...
Monday, 20 June 11
KPCL SETS ALL INDIA & POSSIBLY A WORLD RECORD FOR COAL DISCHARGING
COALspot.com - Krishnapatnam Port has set an all India record for discharging 95,528 tons of steam coal in just 24 hrs using the conventional unload ...
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Showing 5216 to 5220 news of total 6871 |
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- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Planning Commission, India
- The University of Queensland
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
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