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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 $30 mil. According to newbuilding sources the deal is at dangerously low levels with the yard hardly making any profit on the deal.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 25 August 11
OPG EXPECTS COAL PRICES TO REMAIN FIRM IN THE SHORT TERM
COALspot.com - Revenue of OPG, the developer and operator of Group Captive power plants in India up 188% to £33.15m and Income from continuing ...
Thursday, 25 August 11
PAITON POWER LOOKING FOR 3.96 MILLION TONS OF COAL
COALspot.com - PT Pembangkit Jawa Bali (PJB) is looking for 3.96 million tons coal with calorific value 4,800 kcal/kg on as received basis. Accordin ...
Tuesday, 23 August 11
ICMA CALLS GOVERNMENT TO REVIEW EXPORT BAN REGULATION
COALspot.com - Chairman of the Indonesian Coal Mining Association (ICMA) Bob Kamandanu asks the government to review the regulation that being draft ...
Tuesday, 23 August 11
ADARO ENERGY ACQUIRES 75% STAKE OF PT MUSTIKA INDAH PERMAI FOR US$ 222.5 MILLION
COALspot.com - PT Alam Tri Abadi, a wholly owned subsidiary of PT Adaro Energy Tbk, signed a share purchase agreement to acquire a 75% stake of PT M ...
Tuesday, 23 August 11
COAL DEMAND IS REMAINED STRONG IN SPITE OF CURRENT GLOBAL ECONOMIC UNCERTAINTY - BUMI
COALspot.com - Indonesia's largest coal producer, PT Bumi Resources, Tbk (BUMI)'s sales revenue has increased to US$1.79 billion (compared with US ...
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- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Planning Commission, India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- PTC India Limited - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- The University of Queensland
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
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