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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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- MS Steel International - UAE
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- The University of Queensland
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
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