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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, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
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- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- PTC India Limited - India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- The University of Queensland
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
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