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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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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- The University of Queensland
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
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