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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 $30 mil. According to newbuilding sources the deal is at dangerously low levels with the yard hardly making any profit on the deal.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 15 October 11
BUNKER PRICES AND DEMANDS PUSHED FREIGHT RATES UP - VISTAAR
COALspot.com - The market continued to be firm with all segments moving up with biggest gain in Handy size segment up by 15 pct. The BDI was u ...
Saturday, 15 October 11
BENGAL COAL IMPORT TEST - THE TELEGRAPH
The Telegraph reported that, the power position in Bengal improved today but alarm bells are ringing over imported coal stocks that are running out ...
Friday, 14 October 11
CAPE DERIVATIVES MARKET HAS NOT REFLECTED OWNERS EXPECTATIONS' - FEARNBULK
Handy
The Atlantic market continued its upward trend, with fresh cargo entering the market. Skaw Passero to US Gulf climbed US$ 1500 from la ...
Friday, 14 October 11
ADARO BUYS SERVO MEDA FOR RP200 BIO - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) announced that its subsidiary PT Alam Tri Abadi (ATI), acquired 35% stake in PT Serv ...
Thursday, 13 October 11
DRY BULK MARKETS RALLY CONTINUES, BUT ANALYSTS WARN IT WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market continued its push forward yesterday, for yet another session, as the BDI (Baltic Dry Index), the industry’s benchmark edg ...
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- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
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