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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, 12 July 11
DRY BULK MARKET BEGINS WEEK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was evident by the end of the previous week, the dry bulk market’s growth momentum was about to lose steam, something proven yesterday, whe ...
Monday, 11 July 11
REFLECTIONS ON THE FLEET REACHING ONE BILLION TONNES - CLARKSONS / HELLENIC SHIPPING
“A billion gross tonnes of shipping” has a nice ring to it. It presents the industry as a business of substance, with its 85,000 ships w ...
Sunday, 10 July 11
UNTR PROVIDES US$100 MIO TO TTA - INSIDER STORIES
PT United Tractors Tbk (UNTR) agreed to allocate US$100 million to its coal subsidiary dubbed PT Tuah Turangga Agung (TTA).The US$100 million was pa ...
Sunday, 10 July 11
HARDLY ANY CARGO FROM WC INDIA UNTIL END OF MONSOONS - VISTAAR
COALspot.com - The BDI continued to hold last week and firmed up by 27 points with cape and panama index supporting the BDI.
The BDI closed at 1, ...
Sunday, 10 July 11
PTBA INCREASES SHARES IN COAL TRAIN PROJECT - TEMPO INTERACTIVE
TEMPO Interactive reported that, PT Tambang Batubara Bukit Asam (PTBA) is still studying the plan to buy 20 percent of shares in the PT Bukit Asam T ...
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- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- The University of Queensland
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
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