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