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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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Wednesday, 10 August 11
KILLARA RESOURCES TO ACQUIRE SIX COAL CONCESSIONS OF TASON HOLDINGS
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 10 August 11
RESOURCE NATIONALISM IS MAIN BUSINESS RISK FOR MINING SECTORS, E&Y SURVEY
Resource nationalism is top of the business risk list for mining and metals companies around the world, while supply capacity constraint issues cont ...
Wednesday, 10 August 11
INDONESIAN COAL MINING ASSOCIATION OPPOSES LOW-GRADE COAL EXPORT BAN
COALspot.com - The Indonesian Coal Mining Association (ICMA) frowns on and challenges the government plan to ban the low-grade coal export inf ...
Wednesday, 10 August 11
ABM INVESTAMA TO OFFLOAD 20% IPO
Integrated coal mining PT ABM Investama, affiliated company of Tiara Marga Trakindo Group, aims to dispose 20% stake during an initial public offeri ...
Tuesday, 09 August 11
INDONESIAS COAL PRODUCTION GREW BY 19.4% LAST YEAR - BP
COALspot.com - Indonesia’s coal production grew by 19.4% last year to 305.879 million tonnes from 256.181 million tonnes in 2009, the fastest ...
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- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Planning Commission, India
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- The University of Queensland
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
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