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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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Wednesday, 13 November 13
Q3' 14 CFR SOUTH CHINA COAL SWAPS CLOSED HIGHER THAN Q1' 14 PRICES
COALspot.com : API 8 CFR South China Coal swaps for average Q1 14 delivery gained 0.55 percept W-W on Friday 8 November 2013. The CFR South China Co ...
Wednesday, 13 November 13
THE SOFTENING HAS AFFECTED THE BIGGER SIZE SEGMENTS; SMALLER ONES STILL APPEAR TO BE VERY STABLE - INTERMODAL
After a month and a half of back to back weekly declines, the dry bulk market has finally reversed its negative course. We believe that there should ...
Wednesday, 13 November 13
DRY BULK MARKET HAS REVERSED ITS NEGATIVE COURSE - INTERMODAL
Chartering (Wet: Firm+ / Dry: Stable+ )
The Dry Bulk market has reversed its negative course this past week with rates for Capes making up fo ...
Wednesday, 13 November 13
NEWCASTLE COAL EXPORTS PLUNGE 12.40% IN W/E 10 NOVEMBER FROM THE PRIOR WEEK
COALspot.com: In the week ended November 11, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totaled 2.42 ...
Monday, 11 November 13
TAMIL NADU STATE OWNED POWER GENERATOR TO IMPORT 3.7 MMT OF 6000 GAD COAL
COALspot.com - TANGEDCO, Tamil Nadu Generation & Distribution Corporation Ltd, Tamil Nadu state owned power generator & distributor intends ...
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- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Minerals Council of Australia
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- PTC India Limited - India
- ASAPP Information Group - India
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Planning Commission, India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
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