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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, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
Thursday, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
The very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
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- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- PTC India Limited - India
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Australian Coal Association
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Planning Commission, India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
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