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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, 18 September 13
DRY BULK MARKET CONTINUED TO ADVANCE - INTERMODAL
Chartering (Wet: Stable- / Dry: Firm+ )
The Dry Bulk market continued to advance at a very fast pace, with the BDI closing off the week north ...
Tuesday, 17 September 13
BUMA PRODUCED 3.57 PERCENT MORE COAL IN AUGUST
COALspot.com: BUMA has removed totaled 25.20 million bcm of overburden to produce 2.90 million tons coal in August 2013. BUMI produced 3.07 percent ...
Tuesday, 17 September 13
NEWCASTLE PORT SHIPPED ABOUT 27 PERCENT MORE COAL WEEK ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 27.26 per cent week on week to 3.01 million mt for ...
Tuesday, 17 September 13
TAIPOWER INVITES BIDS FOR SUPPLY OF SUB-BITUMINOUS COAL
COALspot.com - Taiwan Power Company intends to procure 1.050 million tons of sub-bituminous coal for Taipower thermal power plant through open tende ...
Tuesday, 17 September 13
ORPHEUS SECURES SIGNIFICANT INFRASTRUCTURE DEAL THROUGH ACQUISITION OF SOUTH KALIMANTAN PORT CAPACITY
COALspot.com : Orpheus Energy Limited (ASX: OEG) of Australia has today announced that, it has executed a binding agreement with the proprietor of S ...
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- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
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