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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, 24 June 13
INDONESIA COAL SWAP FOR AUGUST 2013 DELIVERY GAINS WEEK ON WEEK
COALspot.com – Coal prices for immediate supply contracts have started moving up, but prices for next year supply shows a negative trend ...
Sunday, 23 June 13
BDI CROSSED ITS PSYCHOLOGICAL BARRIER THIS WEEK - VISTAAR
COALspot.com : The BDI crossed the psychological barrier of 1000 points after many months and closed at 1,027 points, which were up by 14.11 pct wee ...
Sunday, 23 June 13
SHIP PRICES NOT FOLLOWING FREIGHT MARKET FUNDAMENTALS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Although it's been the case in many occasions in the past, it appears that ship prices haven't been quite following freight market fundamentals, i ...
Friday, 21 June 13
U.S. COAL PRODUCTION INCREASED WEEK ON WEEK, EIA SAYS
COALspot.com – United states the world’s second largest coal producer produced totalled approximately 19.70 million short tons (mmst) of ...
Thursday, 20 June 13
CAPESIZE : FINALLY A SUBSTANTIAL IMPROVEMENT IN RATES! - FEARNLEYS A.S
Handy
Atlantic market kept a steady curve from last week. US Gulf positions fetched tick above USD 21k for Cont/Skaw direction, and vessels fixed f ...
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- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Planning Commission, India
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
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