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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, 25 October 13
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED TOTALLED 803.1 MMST
COALspot.com – United States the world’s second largest coal producer produced approximately 19.10 million short tons (mmst) of coal in ...
Thursday, 24 October 13
PANAMAX: RATES SLIP ACROSS BOTH HEMISPHERES
Handy
We were back from holidays but still not much enquiries in the market. Overall future direction is uncertain. Currently, ships passing Singap ...
Thursday, 24 October 13
SHIP PRICES ARE INCREASING ON THE BACK OF IMPROVED MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating from its recent highs, ending yesterday at 1,786 points, down 61 points on the day, with Capesizes leadin ...
Wednesday, 23 October 13
DRY BULK MARKET HAS SHOWN SIGNS OF STABILITY - INTERMODAL
Chartering (Wet: Stable+ / Dry: Stable-)
The Dry Bulk market has shown signs of stability this past week, with the sole exception of Capes, rates f ...
Wednesday, 23 October 13
MARKET SENTIMENT IN THE DRY BULK SECTOR REMAINS POSITIVE - YANNIS OLZIERSKY
Market sentiment in the dry bulk sector remains positive despite the latest correction in freight rates for the Capesize sector, which are sliding f ...
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- Parliament of New Zealand
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Indian Energy Exchange, India
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- The University of Queensland
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
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