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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, 03 July 11
INDONESIAN GOVERNMENT HAS CLEARED 1509 COAL IUP'S AS CLEAR AND CLEAN
COALspot.com - The Directorate general of mineral & coal of Indonesia has cleared around 1,509 IUP holders (coal mining companies) as "clea ...
Sunday, 03 July 11
MONSOON IN INDIA PUSHED FREIGHTS UP FROM INDONESIA TO WC INDIA - VISTAAR
COALspot.com - The BDI continued to hold closing just 2 points below last week at 1,422 points which was supported by Cape index which was up by 71 ...
Friday, 01 July 11
BEN LINE OPENS A NEW OFFICE IN BERAU
COALspot.com - Ben Line Agencies has announced that it has opened a new office in the busy coal loading port of Berau in East Kalimantan increasing ...
Friday, 01 July 11
CAPESIZE RATES TO REMAIN DEPRESSED IN COMING MONTHS SAYS SHIPPING ORGANIZATION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a recent report, BIMCO reassessed that Capesize freight rates will remain in depressed territory in the coming months. Capesize Time Charter Aver ...
Thursday, 30 June 11
DRY BULK MARKET SHOWS SIGNS OF FURTHER WEAKENING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to shake off the additional supply of vessels, an oversupply issue of grave concern that would have occured e ...
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Showing 5206 to 5210 news of total 6871 |
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- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- McConnell Dowell - Australia
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- PTC India Limited - India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
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