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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, 09 May 11
THAILAND COAL IMPORTS SURGE IN Q1 - ICAP SHIPPING
Thailand's coal imports leapt 20% in Q1 and the country looks set to import its largest ever volume in 2011 as quoted by ICAP Shipping web site.
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Monday, 09 May 11
KOSPO SEEKING 65KT STEAMING COAL
COALspot.com - Korea Southern Power Co (KOSPO) issues tender for 65000 Mt of Steaming Coal Supply with a minimum CV of 4,500 kcal/kg on NAR basis. D ...
Monday, 09 May 11
INDONESIA HBA FALL BELOW $118
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the May 2011 Indonesian Coal Reference Price for thermal coal at US$ 11 ...
Monday, 09 May 11
DIAN SWASTATIKA Q1 PROFIT SOARS 511 PERCENT - INSIDER STORIES
PT Dian Swastatika Sentosa Tbk (DSSA), parent of coal miner PT Golden Energy Mines, reported a 511.73% jump in net profit for the first quarter of t ...
Saturday, 07 May 11
BERAU INKS DEALS WITH CHINESE FIRMS AS COAL WEATHERS COMMODITIES STORM - THE JAKARTA GLOBE
The Jakarta Globe reported that, Berau Coal, one of the country’s largest coal miners, has signed sales contracts with two Chinese companies a ...
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- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- The University of Queensland
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
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