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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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Monday, 16 May 11
INDO TAMBANG 1Q SALES REVENUE UP - INSIDER STORIES
Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) ...
Sunday, 15 May 11
THE FREIGHT MARKET REMAINED SOFT - VISTAAR
COALspot.com - "The freight market overall remained soft", said Capt. Reddy, Director of Vistaar Shipping Singapore. He further added, &qu ...
Saturday, 14 May 11
WELSPUN TO ACQUIRE AN INDONESIAN COAL MINE - MEDIA
The India based Welspun Power and Steel Ltd is planning to acquire 456,000 shares in PT Batubara Energy Indonesia, representing 75% interest, accord ...
Saturday, 14 May 11
DRY BULK MARKET ON A DOWNFALL ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what is now pretty clear will be yet another challenging year for dry bulk ship owners, the Baltic Dry Index returned to its usual pattern of dec ...
Tuesday, 10 May 11
DRY BULK MARKET KEEPS ON RISING, OUTLOOK MIXED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward once again on Monday, with the Baltic Dry Index rising by 0.6% to 1,348, although the Capesize market was 0.57% l ...
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- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- The University of Queensland
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
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