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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 $30 mil. According to newbuilding sources the deal is at dangerously low levels with the yard hardly making any profit on the deal.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 18 September 11
THE COAL IMPORTS TO INDIA, OUT OF INDONESIA LIKELY TO PICK UP - CAPT. REDDY
COALspot.com - The freight market continued the upward trend until midweek almost touching 2,000 points, however towards second half of the week the ...
Saturday, 17 September 11
GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE FOR US$ 1.26 BILLION
COALspot.com - GVK group, India’s leading infrastructure developer,confirmed arrangements for the acquisition of a strategic part of large, hi ...
Saturday, 17 September 11
INDIA'S GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE PROJECTS IN AUSTRALIA
COALspot.com - GVK group, India’s leading infrastructure developer, today confirmed arrangements for the acquisition of a strategic part of la ...
Friday, 16 September 11
DELTA DUNIA MAKMUR REMOVED 30.9 MILLION BCM OVERBURDEN IN AUGUST 2011
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 30.9 million bcm (+13.2% YoY) overburden in August 2011 while coal production was at 2.9 ...
Thursday, 15 September 11
RUSSIAN COAL EXPORTS UP 10.9% IN JAN-AUG TO 71.50 MILLION TONS - PORT NEWS / HELLENIC SHIPPING
Port News reported that, Coal exports from Russia in January-August 2011 grew by 10.9% compared with the same period last year, to 71.50 million ton ...
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Showing 5076 to 5080 news of total 6871 |
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- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Planning Commission, India
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Australian Coal Association
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
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