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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 $30 mil. According to newbuilding sources the deal is at dangerously low levels with the yard hardly making any profit on the deal.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1. ...
Sunday, 12 June 11
THE FREIGHT MARKET IS LIKELY TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued to soften this week except for Panamax index. The BDI was down by about 4.77 pct and closed at 1,418 poi ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Friday, 10 June 11
BUKIT ASAM RECORDED RP1.3 TRILLION PROFIT IN MAY - TEMPO INTERACTIVE
Tempo Interactive reported that, PT PT Tambang Batubara Bukit Asam Tbk (PTBA) made a net profit of Rp 1.3 trillion (approx. US$ 152,779,410) at the ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
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- Economic Council, Georgia
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- The Treasury - Australian Government
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
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