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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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- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
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