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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, 13 September 13
DIRECTOR GENERAL OF MINERAL AND COAL OF INDONESIA REVISED UP COAL PRICE REFERENCE TO US$ 76.89
COALspot. com - The Indonesian government has revised up its owned coal bench mark price by US$ 0.19/ MT to US$ 76.89 for September 2013 deliveries ...
Thursday, 12 September 13
PANAMAX : PACIFIC ROUNDS ARE NOW REPORTED BETWEEN USD 13K AND 15K PER DAY - FEARNRESEARCH
Handy
Nickel ore is a key support SE Asia/Feast rate at the moment; vessel in N.China were fixed around USD 11-12k, ships in mid China can expect a ...
Thursday, 12 September 13
CAPESIZE MARKET WILL BECOME EVEN TIGHTER - JEFFREY LANDSBERG
COALspot.com : While it is no secret that current capesize availability has become tight and has caused capesize rates to surge, availability is set ...
Thursday, 12 September 13
OVER THE WORST? WE MIGHT FIND OUT THIS WEEK - BIMCO
The shipping market has a spring in its step, even as summer draws to a close. There is it seems, confidence that finally, we are emerging into the ...
Wednesday, 11 September 13
ASIA - PACIFIC THERMAL COAL MARKET TO REMAIN OVERSUPPLIED IN NEXT 12 MONTHS - FITCH RATINGS
COALspot.com: Fitch Ratings says the Asia-Pacific thermal coal market will remain oversupplied in the next 12 months because strong production has b ...
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- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- The University of Queensland
- Sojitz Corporation - Japan
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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