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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 $30 mil. According to newbuilding sources the deal is at dangerously low levels with the yard hardly making any profit on the deal.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 15 September 11
INDIAN GOVT PLANS TO DEVELOP 9 NEW MAJOR PORTS BY 2016 - INVEST MONEY / HELLENIC SHIPPING
The government has announced to make a investment of more than Rs 22,000 crore (approximately US$ 4,623,791,331) to develop nine new major ...
Thursday, 15 September 11
BOTSWANA COAL AND ENERGY CONFERENCE 2011
Press Release - Botswana Coal and Energy Conference 2011 | 29-30 November 2011 | Gaborone. Botswana represents Africa’s exciting new coal and ...
Thursday, 15 September 11
DRY BULK MARKET EDGING FURTHER UP THE SCALE, CLOSING IN ON 2,000 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was up once again yesterday, reaching 1,927 points, or 1.375 higher on the day. Thus, it has kept its rising trend established d ...
Wednesday, 14 September 11
INDO STRAITS BAGS 2.4 MILLION TON COAL TRANSPORTATION CONTRACT FROM ARUTMIN
COALspot.com - PT Indo Straits Tbk (PTIS) bagged a contract to tranship about 2.40 million tons of coal over an initial period of 6 months fro ...
Wednesday, 14 September 11
DUTA PERTIWI DISCOVERS COAL RESERVE - INSIDER STORIES
Insider Stories reported that, PT Duta Pertiwi Nusantara Tbk (DPNS) yesterday steeply jumped 24.56% to Rp710 a share after the company discove ...
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Showing 5081 to 5085 news of total 6871 |
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- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- White Energy Company Limited
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Australian Coal Association
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
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