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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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Thursday, 10 October 13
SEVERAL PANAMAX FIXTURES FOR 1 YEAR TC HAVE BEEN REPORTED AROUND $13.5K/DAY - FEARNRESEARCH
Handy
The market is not much fancy as several holidays in the Far East last week. Tonnage side seems tight in SE Asia but there are many of them in ...
Wednesday, 09 October 13
PANAMAX: FIRM ; FIXING ACTIVITY INCREASED IN BOTH BASINS - INTERMODAL
This was another week of gains for the Dry Bulk market, albeit very modest ones compared to the previous ones. Charterers and owners struggled for t ...
Tuesday, 08 October 13
CHINA: INTENSE COMPETITION AMONG DOMESTIC COAL MINERS AS 2013 IMPORT DEMAND REMAINS STRONG - WOOD MACKENZIE
Prices will not fall under RMB500/t or risk supply availability to the coastal market
Despite China's lower economic growth, Wood Mackenzie says ...
Monday, 07 October 13
RICHARD BAY COAL TERMINAL SHIPPED 49.94 MMT OF COAL YTD
COALspot.com - Richards Bay Coal Terminal (RBCT), the world's single largest coal terminal has shipped 49,946,509 mt of coals YTD, according to por ...
Monday, 07 October 13
SOUTH AFRICA'S RBCT SHIPPED 7.94% MORE COAL IN SEPT' 13
COALspot.com - Richards Bay Coal Terminal (RBCT), the single largest coal export terminal in South Africa as well as in the world has shipped 7.94 p ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Wood Mackenzie - Singapore
- The University of Queensland
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- White Energy Company Limited
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Planning Commission, India
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
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