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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 $30 mil. According to newbuilding sources the deal is at dangerously low levels with the yard hardly making any profit on the deal.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 29 July 11
5300 ADB COAL WILL BE AT US$ 60/TON IN THIS QUARTER - RAIN
COALspot.com - PT Resource Alam Indonesia Tbk (KKGI) seeing the average selling price of its coal for the third quarter of this year will increase t ...
Thursday, 28 July 11
PTBA'S COAL PRICES UP IN H1 2011
COALspot.com - Bukit Asam’s coal prices in the second half of 2011 will expected to be higher than the first half of this year, said Sukrisno, ...
Thursday, 28 July 11
RESOURCE ALAM 1H PROFIT SURGES 208 PERCENT
Indonesia's tenth largest coal miner in term of concessions, PT Resource Alam Indonesia (KKGI), part of Rain Group, today reported a skyrocket net ...
Thursday, 28 July 11
DRY BULK MARKET EDGES FURTHER DOWN ON ADDED PRESSURE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Baltic Dry Index (BDI), an indicator of dry bulk freight rates has reached new lows this week, with yesterday’s session ending further dow ...
Wednesday, 27 July 11
BLACKSTONE TO INVEST INR 5,000 MILLION (APPRX. US$ 111 MILLION) IN VISA POWER
Press Release - The Blackstone Group (NYSE: BX) today announced that it will be investing INR 5,000 million (c. USD 111 million) in VISA Power ...
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- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Australian Coal Association
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- The University of Queensland
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
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