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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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Thursday, 13 June 13
HANDY: SHORT PERIOD WERE FIXED AT AROUND USD 9000 LEVEL
Handy
Despite falling rates for bigger sizes, the Supras in Atlantic are seeing some improvements with fresh biz. US Gulf positions fetching tick a ...
Thursday, 13 June 13
BIMCO EXPECTS SUBDUED CAPESIZE EARNINGS FOR THE COMING WEEKS - HELLENIC SHIPPING NEWS
Bulk is not only about China even though it is a key driver. In this section, we have taken a closer look at the European seaborne coal markets, whi ...
Thursday, 13 June 13
RIO TINTO AGREES SALE OF EAGLE PROJECT FOR AN ESTIMATED US$325 MILLION IN CASH
COALspot.com - Rio Tinto has reached a binding agreement to sell its Eagle project to Lundin Mining Corporation for an estimated US$325 million in c ...
Thursday, 13 June 13
HARD COAL IMPORTS RISE SHARPLY IN GERMANY IN Q1 2013 - COAL IMPORTERS ASSOCIATION
Coal-fired Power Plants in Germany: Pillars of the Grid and the Energy Turnaround; Hard Coal Consumption and Hard Coal Imports Rise Sharply in Germa ...
Wednesday, 12 June 13
INDONESIAN COAL PRICE REFERENCE SLIDES TO 2013 LOW
COALspot.com - Indonesian Coal Price Reference continues to take its lumps this month, dropping about 0.54 % and hitting a 2013 low. The Indonesian ...
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- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- The University of Queensland
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
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