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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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- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- PTC India Limited - India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- The Treasury - Australian Government
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
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