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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, 06 September 13
DRY BULK MARKET REACHES NEW YEAR-HIGHS ON THE BACK OF INCREASED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been on the rise once again, but this time around any new increase of freight rates translates into new year-highs, thus bri ...
Friday, 06 September 13
US PRODUCED APPROXIMATELY 90.80 MMST OF COAL IN AUGUST
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.90 million short tons (mmst) of ...
Thursday, 05 September 13
INDONESIAN COAL EXPORTS UP BY 6.72 PERCENT IN JULY
COALspot.com: Indonesia, the world's largest multi grade coal exporter shipped 35.268* million tons of coal in July 2013. Indonesian coal exp ...
Thursday, 05 September 13
HANDY: NICKEL ORE WAS PUSHING THE FAR EAST MARKET - FEARNLEYS
Handy
Nickel Ore was pushing the Feast market, several ships were fixed from low teens to $14k. Indo/India was still supported by bauxite, while th ...
Thursday, 05 September 13
DRY BULK MARKET ON A HIGH ROLL, MAINLY THANKS TO CAPESIZE APPETITE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize owners have been rejoycing on the back of renewed optimism for the further rise in the dry bulk market's freight rates, especially when on ...
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- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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