We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Sunday, 14 August 11
SUPRAMAX CHARTER RATES SHARPLY UP - CAPT.REDDY
COALspot.com - The BDI ended positive with gains in Cape and Panamax index. The BDI was up by 1.50 pct and the cape and panamax index was up by almo ...
Saturday, 13 August 11
GMR HAS ENTERED INTO CSPA WITH GEMS TO ACQUIRE 30% STAKE
COALspot.com - GMR Infrastructure Investments (Singapore) Pte Ltd, a subsidiary of GMR Infrastructure, has signed conditional sale and purchase agre ...
Friday, 12 August 11
COAL MINERS WILL ALLOW TO CONSTRUCT MINE MOUTH POWER PLANT
COALspot.com - The government is set to draft a regulation to enable construction of steam-fired power plants (PLTU) by coal mining companies for th ...
Friday, 12 August 11
CAPESIZE DEMAND HELPS LIFTING OF DRY BULK MARKET - HELLENIC SHIPPING NEWS
The dry bulk market has recovered a small fraction of its lost ground this week, with higher returns as a result of increased capesize demand. This ...
Thursday, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
|
|
|
Showing 5141 to 5145 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Marubeni Corporation - India
- The University of Queensland
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Planning Commission, India
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
|
| |
| |
|
