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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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Wednesday, 17 July 13
NEWCASTLE COAL EXPORTS FELL 3.85% ON WEEK
COALspot.com: Newcastle port in Australia has loaded 2,860,149 tons of coal for the week ended 0700 hours 15 July 2013, Newcastle Port Corp. s ...
Wednesday, 17 July 13
TORN BETWEEN A CREDIT CRUNCH AND SUSTAINABLE GROWTH - GEORGE DERMATIS
COALspot.com: In 2012 China expanded at a rate of 7.8%, its worst annual performance in 13 years, raising criticism over the newly appointed governm ...
Tuesday, 16 July 13
TAKE - OR - PAY CONTRACTS CONTINUE TO INCENTIVISE AUSTRALIAN COAL PRODUCERS DESPITE POTENTIAL NEGATIVE CASH MARGINS - WOOD MACKENZIE
Australia's coal production has continued to grow, despite lower coal prices in 2013. Global investors and suppliers are therefore questioning whet ...
Monday, 15 July 13
INDONESIAN GOVERNMENT HAS REVISED DOWN ITS JULY BENCH-MARK COAL PRICE TO US$ 81.69 PER MT
COALspot. com - Indonesian Coal Price Reference dropped 3.75 % and hitting a 2013 low. The Indonesian government has revised down its owned coal ben ...
Monday, 15 July 13
INDO COAL SWAPS ARE STRUGGLING FOR RIGHT DIRECTION
COALspot.com – Indo coal swaps are struggling to find the right direction. Sub-Bit Indonesia coal swaps (FOB ) for average August 2013 d ...
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- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Bhatia International Limited - India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- VISA Power Limited - India
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