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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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Monday, 26 August 13
CARRIAGE OF COAL CARGOES FROM KALIMANTAN, INDONESIA - WEST OF ENGLAND P&I CLUB
The Club has recently been advised by consulting scientists and engineers Dr J H Burgoyne and Partners (International) Limited that the number of in ...
Sunday, 25 August 13
API 8 CFR SOUTH CHINA COAL: HEADING TO NORTH
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average Q4 2013 delivery US$ 2.39 up month on month. The swap was moved positive ...
Sunday, 25 August 13
THE FREIGHT MARKET S7 & S8 SECTOR IS EXPECTED TO BE STEADY/FIRM NEXT WEEK - VISTAAR
COALspot.com - The freight market continued to be firm with all indices moved positive except for Panamax which was slightly down (2 pct down).
T ...
Friday, 23 August 13
US PRODUCED MORE COAL WEEK ON WEEK - EIA
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.80 million short tons (mmst) of ...
Thursday, 22 August 13
PANAMAX : PERIOD MARKET IS STILL BEING LED BY STRONGER SENTIMENT IN THE FFA'S - FEARNRESEARCH
Handy
This week started slowly as expected. Indo biz now rate APS around 7k +60k to china and around 8k+80k to India. However, there are some ships ...
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- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
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