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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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Thursday, 16 June 11
FREIGHT MARKET FAILS TO RECOVER - DREWRY / HELLENIC SHIPPING
With demand failing to improve enough to contain the colossal increases in supply, the dry bulk freight market stayed near the dreadfully low levels ...
Thursday, 16 June 11
VALLAR CONTROLS 84.7 PERCENT STAKE IN BERAU COAL - INSIDER STORIES
Insider Stories reported that, London-based investment company Vallar Plc, via its subsidiary dubbed Vallar Investments UK Limited, today announced ...
Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian g ...
Wednesday, 15 June 11
BAYAN RESOURCES OWNS 56 PERCENT KANGAROO - INSIDER STORIES
Australia-listed coal miner Kangaroo Resources Limited (KRL) has obtained final approval from its shareholders to complete its US$277 million acquis ...
Wednesday, 15 June 11
DRY BULK MARKET WEAKENS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite this time of year traditionally being one of the busiest for the dry bulk market, it seems that in the post-crisis era trade patterns are co ...
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Showing 5226 to 5230 news of total 6871 |
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- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- The University of Queensland
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- MS Steel International - UAE
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
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