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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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Saturday, 03 September 11
FEW SHIPS REPORTED FIXED FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued the upward trend during last week with BDI up by about 13 pct closing at 1,740 points and cape index up ...
Saturday, 03 September 11
TNPL TO BUY 240K MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure 240,000 MT +/- 5 percent of non-coking imported coal with ...
Thursday, 01 September 11
EWP TO BUY 195KT OF VIETNAM COAL
COALspot.com - Korea Midland Power (KOMIPO) has issued an International open bidding for 490kt of sub bituminous coal, according to a bid invitation ...
Thursday, 01 September 11
DRY BULK MARKET TAKES GREAT LEAP FORWARD - NIKOS ROUSSANOGLOU
In what turned out to be a rather hopeful ending of the month, the last day of August saw the dry bulk market’s benchmark, the BDI (Baltic Dry ...
Tuesday, 30 August 11
FAUJI CEMENT CONSUMED MORE THAN 1 MILLION TONS OF LOCAL COAL
Cooper Minerals Inc.based in Vancouver, BC, Canada, is a junior exploration company engaged in the acquisition, exploration and development of miner ...
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- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- The University of Queensland
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Planning Commission, India
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
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