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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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- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Planning Commission, India
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- India Bulls Power Limited - India
- The University of Queensland
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- White Energy Company Limited
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
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