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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, 20 July 11
ANTWERP RECEIVES THE CAPESIZE MG COURAGE
The deepening of the Western Scheldt has made the port of Antwerp easily accessible not only to Ultra Large Container Ships of over 10,000 TEU but a ...
Wednesday, 20 July 11
KALIMANTAN GOLD APPOINTS COMMISSIONER TO SUBSIDIARY
Kalimantan Gold Corporation Limited has announced the appointment of Dr. Bambang Setiawan as Commissioner (a senior advisor) to the Board of PT Kali ...
Wednesday, 20 July 11
CHALLENGER GETS TABANG PROJECT IUP PERMIT
COALspot.com - Challenger Deep Resources Corporation has been getting exploration permit or Izin Usaha Pertambangan (IUP) for its Tabang coal in Eas ...
Wednesday, 20 July 11
TCM COAL PROJECT IN SOUTH KALIMANTAN MOVES TO FINAL FEASIBILITY STUDY
COALspot.com - Pan Asia Corporation Ltd has executed a formal agreement with an underground mining group KOPEX to undertake a final feasibilit ...
Wednesday, 20 July 11
DRY BULK MARKET KEEPS ON FALLING ON SOFTENING CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated to lower ground on Tuesday, as the industry’s benchmark, the BDI (Baltic Dry Index) fell to 1,330 points, down b ...
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- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
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