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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, 07 May 11
SUPRAMAXES ARE AT AROUND $ 13,500-14,000 PER DAY FOR SINGLE TRIPS
COALspot.com - The freight remained fairly steady this week with the BDI up by 71 points and closing at 1,340 points, said Capt. Reddy, the director ...
Saturday, 07 May 11
COAL PRODUCTION MAY REACH 95M TONS IN SECOND QUARTER - THE JAKARTA POST
The Jakarta Post reported that, Indonesian miners are projected to produce around 95 million tons of coal in the second quarter of this year after l ...
Friday, 06 May 11
BUKIT ASAM TO CLOSE COAL TAKEOVER IN Q2 - INSIDER STORIES
The state-controlled PT Tambang Bukit Asam Tbk (PTBA) expects to complete acquisition of two coal mining companies from four companies which is now ...
Thursday, 05 May 11
SUPRAS IN NORTH CHINA ARE GETTING CLOSE TO $ 13K FOR INDO-INDIA
Handy
The Atlantic market is stable/flat with positive undertone meaning more enquiries hitting the market today. Lack of prompt vessels. Trips to ...
Thursday, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
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- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- The University of Queensland
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Mjunction Services Limited - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
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