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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, 10 November 13
PANAMAX COAL FREIGHT RATES REMAIN UNDER PRESSURE; SUPRAMAX BIGGEST GAINER - REDDY
COALspot.com: The freight market was up this week with all indices increased except for Panamax index.
The BDI was up by 56 points closing at 158 ...
Friday, 08 November 13
DRY BULK MARKET BOUNCES BACK ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market staged a mild comeback this week, as the industry's benchmark, the Baltic Dry Index (BDI) inched forward step by step and bit b ...
Friday, 08 November 13
US'S OCTOBER COAL PRODUCTION INCREASED BY 1.78% M-M - EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.3 million short tons (mmst) of coal in ...
Thursday, 07 November 13
FORMOSA PLASTICS SEEKS 80K MT OF 5850 GAR COAL
COALspot.com: Taiwan's Formosa Plastics Group is inviting bids for 80,000 mt of bituminous coal for delivery in Nov - Dec'13 for its Chi ...
Thursday, 07 November 13
INDONESIAN COAL EXPORT VOLUME INCREASED; REVENUE DECREASED
COALspot.com: Indonesia, the 15th largest economy, 4th largest coal producer in the world and world's largest multi grade coal exporter shipp ...
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- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- PTC India Limited - India
- Mercator Lines Limited - India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
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