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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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Friday, 19 August 11
INDIA IMPORTS LESS INDONESIAN COAL THAN CHINA IN JULY
COALspot.com - Indonesia shipped 31.30 Million tons of coal in July 2011, up by 10.69 percent compared to June's export of about 28.27 ...
Thursday, 18 August 11
INDONESIAS PROPOSED LOW GRADE COAL EXPORT BAN WILL NOT HAVE A SIGNIFICANT IMPACT ON INDIA - MISWIN MAHESH
COALspot.com - The Indonesian government is currently in the process of drafting a new regulation that could ban the export of low-grade coal by Jan ...
Thursday, 18 August 11
MARUBENI ACQUIRED 42.86% OF YTL JAWA POWER
COALspot.com - Marubeni Corporation (Marubeni) has completed the acquisition of 42.86 percent of the shares of YTL Jawa Power Holdings BV from YTL P ...
Wednesday, 17 August 11
CME LAUNCHES ARGUS COKING COAL SWAP FUTURES
COALspot.com - Argus media reported that, leading exchange CME Group will list an Australian coking coal swap futures contract for trading on the Ny ...
Wednesday, 17 August 11
TAVESCO KILLARA ENERGY TO ACQUIRE COAL CONCESSIONS IN EAST KALIMANTAN
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
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- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Agrawal Coal Company - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
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