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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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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Central Electricity Authority - India
- Australian Coal Association
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
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