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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, 21 October 20
INDIA: THE COMMERCIALISATION OF COAL BLOCKS WILL BENEFIT THE ECONOMY - HINDU BUSINESS LINE
As the government of India receives 76 bids for 23 coal mines against the 38 up on auction, what does this commercialisation of coal block allocati ...
Wednesday, 21 October 20
MARKET INSIGHT - INTERMODAL
The second wave of COVID-19 is now a reality; offices are closing again, and stricter rules and regulations are being implemented in public spaces. ...
Tuesday, 20 October 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.82 PCT - XINHUA
China Taiyuan coal transaction price index stood at 127.49 points Monday, up 0.82 percent week on week.
The index, released by China ...
Tuesday, 20 October 20
BIMCO 'SHIPLEASE' TERM SHEET - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
The ever-growing importance of sale and leaseback transactions as an alternative to financing ships by way of loan, makes ...
Friday, 16 October 20
KOMIPO ON BEHALF OF K GENCO'S INVITED BIDS FOR TOTAL 715,000 MT MIN. 5,700 NAR COAL FOR DECEMBER
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 715,000& ...
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- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
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