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Thursday, 12 September 13
DRY BULK MARKET RALLY COMES AT A GOOD TIME FOR MOST SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest surge of the dry bulk market has helped offset other lingering factors, which otherwise, could have plunged freight rates to new lows. For example, news from the demolition market, which so far proved a rather helpful resource for both earning ship owners some cash and at the same time helping offset the tonnage oversupply problem, is in a bit of a precarious position. Indian scarpyards find it hard to acquire more vessels, as the Indian rupee seems to be struggling to hold its ground, since it reach 68 per dollar, thus leaving no window of opportunity for further purchases of any demo tonnage.
Updating on this week's latest data, shipbroker Intermodal added that " the Indian Rupee has recovered a bit against the US Dollar but it is undoubtedly too early to talk about a definite reversal yet and even earlier for the news of the local currency stabilizing to feed through the demolition market and get demo buyers back to action. The Indian Sub-Continent has remained in the sidelines for yet another week while China has resumed its decisive effort to gain further market share. It is indicative that not only the majority of freshly reported deals were concluded in the far East but also that the bids offered by Chinese breaking yards have strengthened further in an otherwise falling market. The price gap between China and the rest of the market is practically non-existent as far as dry candidates are concerned, while in some cases offers have even surpassed Indian Sub-Continent levels by more than 20$/ldt. Prices this week for wet tonnage were at around 365-390$/ldt and dry units received about 355-360$/ldt", it said.
Meanwhile, according to a recent report from the shipbroker, " the Bangladesh market is still there to do some quick deals, but the price it can pay up is very low compared to what we were seeing two months ago. The big surprise has now come from the Chinese demo market as there have been rumors that a Panamax BC built in 1989 achieved a price close to US$ 370/ldt, without even much bunkers on board. However, it is our understanding that this was an exception to the rule, as the vessel reported was in very good condition and scrap yards in China were “hungry” for such tonnage since they had seen little activity lately", Intermodal's Christos Trages, SnP broker stated.
He added that "the Chinese second hand market was also very quiet this year as the poor freight market had driven many investors to turn their focus on other industries that had to offer quicker returns and less risk. The new government has focused on increasing investments for infrastructure in order to assist the country’s economy but it has also set 7% as the minimum growth rate, which is one per cent below the 8% the previous government was trying to achieve. On the other hand all the above seems to have limited impact on Western buyers, especially for ships built in the mid 90’s and up to mid-2000, which have seen keen interest from elsewhere. Some good examples are to be found in the case of the “Danann Island” (75,637 dwt / 2006 blt Sanoyas) rumored to be committed to a Greek family for a price on the high 18mil, the “Belgrano” (76,759 dwt / 2004 blt Sasebo), which reached almost ten Buyers/Inspections, and also in another three Korean owned Panamax bulkers, built in the early 2000, which had about 18 different Buyers already registering their interest. Again here, we had the exception of the Kamsarmax “Ocean Lord” (82,977 dwt / 2005 blt Tsuneishi), which we understand hasn’t attracted much interest and managed only 4 inspections" Trageas said.
He concluded his analysis by taking a peek at the ongoing Syrian crisis. He said that "September has also brought the possibility of a mini military intervention into Syria, which caused oil prices to spike and if the U.S. follows through on its plan, we expect the rest of the energy commodities to follow suit. China is not yet in a position to play a significant role in the Middle East area (however its military progress is huge and well known, having her first aircraft carrier in commission for almost a year now). The country has remained in the sidelines for now, even though it stakes to lose a lot, as the biggest percent of her oil imports are sourced from Middle East. Hopefully all this will end quickly and smoothly with limited negative repercussions to both the people of Syria and the market", he concluded in his report.
Source: Nikos Roussanoglou, Hellenic Shipping News Worldwide
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Sunday, 22 December 13
QUIET FREIGHT MARKET DUE TO LONG HOLIDAYS
COALspot.com: The market was soft this week with all indices down. However towards second half of the week the futures on segments was firming up.
...
Friday, 20 December 13
US PRODUCED 2.71% MORE COAL WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal in ...
Friday, 20 December 13
DRY BULK MARKET SLUMPS AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As has been the case in recent years, the dry bulk market has been on a downward trend ahead of the Holiday Season for a large part of the world. Th ...
Thursday, 19 December 13
SHIPPING CONFIDENCE HITS THREE-YEAR HIGH - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for more than three years over the three-month period to November 201 ...
Wednesday, 18 December 13
SNP ACTIVITY IN CHINA SEEMS TO BE SLOWING DOWN - CHRISTOS TRAGEAS
Approaching the end of the year, SnP activity in China seems to be slowing down in comparison to the first half of this quarter, as most Chinese Shi ...
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- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Planning Commission, India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Interocean Group of Companies - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
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