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Friday, 19 April 13
FIRST QUARTER OF 2013 PROVEN A POSITIVE SURPRISE FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 Despite ominous predictions regarding the negative performance of the dry bulk market during the – traditionally weak anyway – first quarter of the year, it seems that the market dodged a bullet and escaped unscathed from the tonnage oversupply concerns. According to the latest weekly report from shipbroker Intermodal, the first quarter proved to be a positive one for most of the mid-to-small sizes, like Panamaxes, Supras and Handies. Time-charter equivalent earnings have brought some relief as earnings improved and moved to a positive territory beyond the point of covering their operating expenses.
According to Intermodal's S&P shipbroker Yannis Olziersky, "the strong demand for tonnage is driven mainly by the South American grain season, which pushed Panamax rates to an unexpectedly significant improvement. In the Pacific, Panamaxes also found support due to the increased demand for Indonesian exports such as iron ore, bauxite, nickel ore and coal. As a result the BPI during March averaged at around 1,147 points, with rates for a front haul voyage rising up to US$ 18,000/day and round voyages in the Far East edging up to US$ 10,000/day.
Smaller segments like Supras and Handies gained higher returns due to the grain season and their indices where raised by 30% and 20% respectively. On the other hand, weak demand persisted in the Cape size market, which failed to sustain gains. Disruptions in mineral cargo supply like iron ore and coal combined with the massive supply of vessels have driven the Cape size average T/C earnings to sink below US$ 5,000/day, which is the lowest level since Q3 2012", Olziersky said.
He added that "the upward trend in freight rates during Q1 2013 has also affected asset values. Second hand prices have been inched up in all segments (including Capers despite their downward trend in freight). Additionally, activity on the second hand market has also picked up significantly. A comparison between the dry bulk units sold back in Q1 2012 and those reported sold in Q1 2013, points towards an increase in activity by as much as 40pct.
The million dollar question is whether we have seen the bottom on asset values or not. Quite hard and risky to say, however certain things show that present values are attractive enough and, in the mind of some owners, prices have indeed touched the ground. Some facts which may support this perspective are:
Prices in all segments and especially for quality modern tonnage have shown a noticeable upward correction since February/January.
- Major players whom are traditional shipowners are buying vessels and appear to have appetite for more.
- A significant number of Buyers are inspecting quality tonnage that enters the market. In some occasions we hear more than 20 parties inspecting and chasing the same vessel!
- Orderbook to fleet ratio has been reduced significantly and today stands at 16% compared to last year which was at around 26%.
- Fleet removals are still going at a satisfactory pace. Upheld firm demo prices are assisting owners in making the difficult decision to scrap their older units", the shipbroker stated in the report.
He went on to conclude his argument by raising the questions of "Are we moving towards the right direction? and "Is this the right time for investments?. Two questions which time can only answer but by which time it may well be too late to get on board. Given the present facts and market trends though, we feel we may be witnessing a glimpse of hope and a glimmer at the end of the tunnel", he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping news
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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Planning Commission, India
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Minerals Council of Australia
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
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