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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, 02 August 11
INDONESIA BECOMES SECOND LARGEST COKING COAL EXPORTER
COALspot.com - Indonesia, the largest thermal coal exporter in the world now becomes second biggest coking coal exporter to Japan. Indonesian’ ...
Tuesday, 02 August 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK TO PRESENT LATEST TRENDS
Press Release - Global commodities prices have been staying high since the beginning of 2011, resulting in the “TENSION” in various coun ...
Tuesday, 02 August 11
REALM RESOURCES TO ACQUIRE A 75% INTEREST IN THE KATINGAN RIA COAL PROJECT
COALspot.com - Scoping study at the Katingan Ria Coal Project, Central Kalimantan demonstrates positive technical and financial potential for the pr ...
Tuesday, 02 August 11
COAL INDIA TO INVEST IN GOLDEN ENERGY MINES
COALspot.com - Golden Energy Mines, part of PT Dian Swastatika Sentosa Tbk’s, is still negotiating with several strategic investors to o ...
Sunday, 31 July 11
CAPES ARE TRADING BELOW $ 9500 PER DAY - VISTAAR
COALspot.com - The BDI further softened by 4.46 pct and closed at 1264 points which touched below 1300 points after long time. The Cape and Panamax ...
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- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
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