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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, 02 June 11
LARGE SUPRAS FOR RBCT/INDIA ROUND ARE NOW ASKING 14K - FEARNBULK
Handy
The Handy/Supra market has in general been flat and un-exciting this week. The Black Sea market is almost non existing while the US Gulf mar ...
Thursday, 02 June 11
DRY BULK SHIP OWNERS LOOKING INTO SHORTENED WEEK WITH ANXIETY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most markets in the western world closed yesterday, as a result of Memorial Day, dry bulk stakeholders weren’t able to build over the pos ...
Monday, 30 May 11
MIANG BESAR COAL TERMINAL ON TARGET
COALspot.com - MBCT, to be largest coal terminal in Asia to start construction in Indonesia’s east Kalimantan Island in July 2011 says Mr. Joh ...
Sunday, 29 May 11
THE FREIGHT MARKET CONTINUED TO GAIN MOMENTUM - VISTAAR
COALspot.com - The freight market continued to gain momentum and the BDI, Cape Index and Panamax was by up almost 10-12 pct and on all sectors, Vist ...
Saturday, 28 May 11
WCI-CHINA RATES SLIDED TO 15K AND FROM ECI AROUND 12K - FEARNLEYS AS
Handy
Rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnag ...
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- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- MS Steel International - UAE
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Independent Power Producers Association of India
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Minerals Council of Australia
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
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