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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, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
Thursday, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
The very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Australian Coal Association
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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