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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, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
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Showing 5256 to 5260 news of total 6871 |
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- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- White Energy Company Limited
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- The University of Queensland
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
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