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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, 30 August 13
US COAL PRODUCTION FELL 0.48 PERCENT WEEK ON WEEK - EIA
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.70 million short tons (mmst) of ...
Thursday, 29 August 13
HANDY: THE PACIFIC MARKET STARTED HEALTHY THIS WEEK - FEARNRESEARCH
Handy
The Pacific market started healthy this week. We have seen many bauxite, iron ore and few coal fixtures. Ships passing Singapore were able to ...
Thursday, 29 August 13
NO RATING IMPACT ON INDONESIAN ENERGY COMPANIES FROM RUPIAH DEPRECIATION - FITCH RATINGS
Fitch Ratings says the credit profiles of rated Indonesian energy and utilities companies, including thermal coal producers, will largely remain una ...
Wednesday, 28 August 13
THE BDI HAS MOVED TO LEVELS CONSIDERABLY STRONGER THAN THE BEGINNING OF THE YEAR - INTERMODAL
By George Bassakos
SnP Broker - Intermodal
We have already reached the end of August and whilst students are preparing themselves for another sc ...
Tuesday, 27 August 13
AUSTRALIA NEWCASTLE COAL EXPORTS JUMPED 15.59 PERCENT ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 15.59 per cent week on week to 2.76 million mt for ...
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- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Australian Coal Association
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
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