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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 $30 mil. According to newbuilding sources the deal is at dangerously low levels with the yard hardly making any profit on the deal.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 23 July 11
PANAMAX MARKET FACED A LIMITED ACTIVITY IN ALL BASINS
Handy
Atlantic softening across all segments with little fresh enquiry ex Bsea/Cont/USG and ECSA. Trips to Far east remain healthy. More cargoes ex ...
Friday, 22 July 11
MARUBENI ACQUIRING 42.86% SHARE OF YTL JAWA POWER HOLDINGS
COALspot.com - Japan’s Marubeni Corporation acquisition 42.86% stake in YTL Jawa Power Holdings BV, which owns a 35% equity interest in Indone ...
Thursday, 21 July 11
INDIA IMPORTS 36.033 MILLION TONS OF INDONESIAN COAL TILL JUNE
COALspot.com - Indonesia shipped 28.27 Million tons of coal in June 2011, a 2.3 percent lesser than May export of about 28.962 million tons, I ...
Thursday, 21 July 11
COAL PRICES ARE AT US$ 120 A TONNE
COALspot.com - Indonesian coal production in 2011 is expected to reach 360 million tons or 5.8 percent higher than government's forecasts. The incr ...
Thursday, 21 July 11
DRY BULK RATES EDGE FURTHER DOWN ON WEAK MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell once again on Wednesday marking the ninth straight day of losses. The industry’s benchmark, the Baltic Dry Index (BDI ...
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- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Planning Commission, India
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Economic Council, Georgia
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
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