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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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Wednesday, 21 September 11
2ND ANNUAL SHALE GAS SUMMIT
2nd Annual Shale Gas Summit 31 October – 3 November 2011 JW Marriott Hotel, Hong Kong
According to a recent EI ...
Tuesday, 20 September 11
MTD INAUGURATES ITS COAL TERMINAL IN JAVA ISLAND
Press Release – MTD Group of Malaysia, one of prominent key players in the development of infrastructure in Malaysia, today inaugurated their ...
Tuesday, 20 September 11
DRY BULK MARKET LOSING ITS EDGE, RETREATING AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a surge during the past couple of weeks, which saw Capesize earnings boosted and the BDI (Baltic Dry Index) reaching levels of year high and c ...
Monday, 19 September 11
CHINA IMPORTS MORE THAN 10 MMT INDO COAL IN AUGUST 2011
COALspot.com - Indonesian coal exports dropped 1.642 million tons in August compared to July exports. Indonesia exports 29.662 million tons of coal ...
Monday, 19 September 11
INDOMOBIL ENTERING INTO COAL MINING BUSINESS
COALspot.Com- PT Indomobil Sukses Internasional Tbk, part of, one of Indonesia's largest conglomerates, to enter into mining industry ac ...
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- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
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