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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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Sunday, 10 July 11
DRY BULK MARKET SHOWING SIGNS OF IMPROVEMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Stronger Capesize demand has helped propel the dry bulk market forward this week, with the Baltic Dry Index (BDI) ending yesterday’s session u ...
Sunday, 10 July 11
INDONESIAN BAYAN RESOURCES TO SUPPLY 100 MILLION TONS OF COAL TO INDIAN UNIVERSAL SUCCESS ENTERPRISES LIMITED
Coal miner PT Bayan Resources Tbk (BYAN), that is owned by Dato' Low Tuck Kwong, has entered into a conditional sales and purchase agreement to sup ...
Thursday, 07 July 11
BELOW 5100 COAL WILL BE BANNED FOR EXPORT BY 12 JANUARY 2014
COALspot.com - Indonesian government is in the process of drafting an amendment for government regulation 23/ 2010.
GR 23/2010 has issued to sup ...
Wednesday, 06 July 11
ATLAS RESOURCES TO OFFLOAD 17 PERCENT IPO - INSIDER STORIES
Coking and thermal coal miner PT Atlas Energi Resources aims to offload 17percent new shares of its enlarged capital after Eid-Fitri holidays, as qu ...
Tuesday, 05 July 11
UNTR REVISES UP SALES TO 7,500 UNITS - INSIDER STORIES
PT United Tractors Tbk (UNTR), distributor of Komatsu heavy equipment and parent of PT Pamapersada Nusantara, has revised up its equipment sales tar ...
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Showing 5201 to 5205 news of total 6871 |
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- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- White Energy Company Limited
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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