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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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Friday, 15 November 13
US COAL PRODUCTION UP 2.59% WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.8 million short tons (mmst) of coal in ...
Friday, 15 November 13
TAIWAN'S PLASTICS GROUP FORMOSA TO IMPORT 1.37 MILLION TONS OF COAL FOR Q1' 14
COALspot.com: Taiwan's Formosa Plastics Group is inviting bids for total 1.37 million mt of coal for 1Q’ 14 for its various plants in Taiwan, ...
Thursday, 14 November 13
KOMIPO TO BUY 270K MT OF SUB-BITUMINOUS COAL FOR Q2' 14
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International Open Bidding for 140,000 Metric Tons (MT) of sub-bituminous coal ...
Thursday, 14 November 13
PANAMAX : MARKET SHOULD BE AROUND USD 11500 FOR 1 YEAR - FEARNLEYS AS
Handy
The Atlantic market has picked up this week with prompt ships able USG for November dates coming off and chrts need to pay up in order to cov ...
Wednesday, 13 November 13
Y'14 SUB-BIT INDO COAL SWAP MOVING AT SNAIL-SPEED
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’2014 delivery gained 2.95 percept month on month on Friday ...
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- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- GMR Energy Limited - India
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