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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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Saturday, 03 September 11
FEW SHIPS REPORTED FIXED FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued the upward trend during last week with BDI up by about 13 pct closing at 1,740 points and cape index up ...
Saturday, 03 September 11
TNPL TO BUY 240K MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure 240,000 MT +/- 5 percent of non-coking imported coal with ...
Thursday, 01 September 11
EWP TO BUY 195KT OF VIETNAM COAL
COALspot.com - Korea Midland Power (KOMIPO) has issued an International open bidding for 490kt of sub bituminous coal, according to a bid invitation ...
Thursday, 01 September 11
DRY BULK MARKET TAKES GREAT LEAP FORWARD - NIKOS ROUSSANOGLOU
In what turned out to be a rather hopeful ending of the month, the last day of August saw the dry bulk market’s benchmark, the BDI (Baltic Dry ...
Tuesday, 30 August 11
FAUJI CEMENT CONSUMED MORE THAN 1 MILLION TONS OF LOCAL COAL
Cooper Minerals Inc.based in Vancouver, BC, Canada, is a junior exploration company engaged in the acquisition, exploration and development of miner ...
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- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
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