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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, 24 November 13
SUPRAMAX FREIGHT RATES REMAINED FIRM FROM INDONESIA TO INDIA AND CHINA - SOLYM
COALspot.com: The freight market was fairly steady except for the Supramax in SE Asia region which continued to remain firm. The BDI was down by 1.5 ...
Friday, 22 November 13
DRY BULK MARKET STILL LACKLUSTRE, DESPITE PROJECTIONS OF A NEW RALLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
We might still be about six weeks far from the end of the year, but the projected by many analysts upcoming rally of the dry bulk market, hasn't ye ...
Friday, 22 November 13
US COAL PRODUCTION DOWN 1.3% W-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.5 million short tons (mmst) of coal in ...
Thursday, 21 November 13
TAIPOWER TO PROCURE 750K MT OF 5500 GAR BITUMINOUS COAL FOR MAY - AUGUST 2014
COALspot.com: Taiwan Power Company intends to procure 750,000 metric tons of bituminous coal with calorific value not lesser than 5,500 kcal/kg on a ...
Thursday, 21 November 13
CAPESIZE : THE DOWNWARD TREND HAS TURNED INTO NOTABLE SPOT AND PERIOD IMPROVEMENT - FEARNLEYS
Handy
The Atlantic market experienced a general rate increase for most trades this week. More cargoes in the market and chrts looking for prompt t ...
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- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- White Energy Company Limited
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
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