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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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Saturday, 28 May 11
GOLDEN MINES IPO AT RP 2,300 - RP 3,500
Coal miner PT Golden Energy Mines, a wholly owned subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) which is controlled by Indonesian businessman ...
Friday, 27 May 11
LARGER DRY BULK CARRIERS LEAD BDIS RALLY THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Larger dry bulk vessels have kept on leading the market’s rise this week, with the BDI (Baltic Dry Index) rising by a more than healthy 3.43% ...
Wednesday, 25 May 11
70 PERCENT OF HARUMS PRODUCTION SOLD - BISNIS INDONESIA
Coal producer PT Harum Energy Tbk claimed that out of this year's total production target of 10 million tons, 70% or 7 million tons had been sold, ...
Wednesday, 25 May 11
MINERS BACK GOVT PLAN TO FREEZE MINING PERMITS - THE JAKARTA POST
Indonesian coal miners hailed the government’s decision to impose a moratorium on the issuance of new mining permits, saying the freeze would ...
Wednesday, 25 May 11
DRY BULK MARKET ENTERS WEEK ON A HIGH NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has managed to end its downward trend of the past few weeks and surge back on higher ground. Yesterday, the Baltic Dry Index (BD ...
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- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Indian Energy Exchange, India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
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