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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, 05 July 13
THE DRY BULK MARKET IS GOING FROM STRENGTH TO STRENGTH - INTERMODAL
The Capesize sector has been one that has gone through a wild rollercoaster of emotions this past decade, ranging from the exuberance witnessed duri ...
Thursday, 04 July 13
CHALLENGER SIGNS FORMAL EXCLUSIVE MINING AND MARKETING AGREEMENT FOR ABBR PROJECT IN CENTRAL KALIMANTAN
COALspot.com - Challenger Deep Resources Corp., through its subsidiary PT Bestindo Energy has signed the formal exclusive Mining and Marketing agree ...
Thursday, 04 July 13
ASX LISTED QBL TO ACQUIRE INTERESTS IN MOZAMBIQUE COAL EXPLORATION LICENSES
- QBL to acquire interests in two Mozambique exploration licences prospective for coal
- Licenses located in the highly prospective Zambezi basin, ...
Thursday, 04 July 13
HANDY : INDO/CHINA, CHARTERERS RATING AROUND US$ 10,000 - FEARNLEYS AS
Handy
The Feast market firmed slightly up as mid-July cargos entered the market, but charterers seems not in hurry to cover them and looking for ch ...
Wednesday, 03 July 13
NEWCASTLE COAL EXPORTS DIP 24.79 PER CENT WOW
COALspot.com - Newcastle Coal exports fell 24.79% to 2.33 million tons WoW.
Newcastle port in Australia has loaded 2,332,513 tons of coal for the ...
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- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
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