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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, 03 September 11
FEW SHIPS REPORTED FIXED FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued the upward trend during last week with BDI up by about 13 pct closing at 1,740 points and cape index up ...
Saturday, 03 September 11
TNPL TO BUY 240K MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure 240,000 MT +/- 5 percent of non-coking imported coal with ...
Thursday, 01 September 11
EWP TO BUY 195KT OF VIETNAM COAL
COALspot.com - Korea Midland Power (KOMIPO) has issued an International open bidding for 490kt of sub bituminous coal, according to a bid invitation ...
Thursday, 01 September 11
DRY BULK MARKET TAKES GREAT LEAP FORWARD - NIKOS ROUSSANOGLOU
In what turned out to be a rather hopeful ending of the month, the last day of August saw the dry bulk market’s benchmark, the BDI (Baltic Dry ...
Tuesday, 30 August 11
FAUJI CEMENT CONSUMED MORE THAN 1 MILLION TONS OF LOCAL COAL
Cooper Minerals Inc.based in Vancouver, BC, Canada, is a junior exploration company engaged in the acquisition, exploration and development of miner ...
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- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Australian Coal Association
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- PTC India Limited - India
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Central Java Power - Indonesia
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