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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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Tuesday, 23 August 11
PENRHYN COAL USING EVERGREEN ENERGYS COAL UPGRADING PROCESS
Evergreen Energy Inc has announced the successful testing results of the initial batches of Penrhyn coal using Evergreen Energy’s coal upgradi ...
Tuesday, 23 August 11
A SHARP INCREASE IN THE BDI - BRS
A sharp increase in the BDI this week, driven by the rise in Capesize rates. Overall the BDI was up 13.5% to 1,462 points on the back of a 20% surge ...
Monday, 22 August 11
INDONESIA TO BAN BELOW 5700 KCAL/KG COAL FOR EXPORT
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia is in the process of drafting a regulation which is requiring mine owners ...
Monday, 22 August 11
JATENERGY AGREED TO FORM JV WITH AN INDONESIAN COAL MINING COMPANY
COALspot.com - Australian’s listed company, Jatenergy Limited has entered conditional agreement to form joint venture with Indonesia’s c ...
Monday, 22 August 11
NTPC TO IMPORT 16 MILLION TON OF COAL TO BRIDGE THE GAP
COALspot.com - NTPC to import 16 million tons of imported coal, which is equivalent to 23-24 million tons of Indian coal to bridge the gap.
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- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- The University of Queensland
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
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