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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, 04 September 20
IN A DEEPENING DEBT HOLE OF $34 BILLION, INDONESIA’S PLN MUST STOP DIGGING - IEEFA
The utility has added IDR100 trillion in debt annually for the last five years
Utilities globally started changing the way they do business ye ...
Friday, 04 September 20
KOMIPO INVITED BIDS FOR AUSTRALIAN MIN 5,700 NCV COAL FOR NOVEMBER
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 260,000 MT Min.5,700 kcal/kg NCV coal November, 2020 loading. Acc ...
Thursday, 03 September 20
BRINGING SERVICES OF FTCCI CLOSER TO THE EXPORTERS AT GMR AIR CARGO COMPLEX AT SHAMSHABAD
Press Release: “FTCCI Trade Facilitation Services at your doorstep now” says J.S. Chandrashekar, IRS., Principal Commissioner of Custom ...
Thursday, 03 September 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Wednesday, 02 September 20
COAL PRODUCTION FALLS 7% IN APR-AUG; OFF TAKE DIPS 13.4% - FINANCIAL EXPRESS
In the month of August coal off take also increased 9.3% y-o-y to 44.34 MT as compared with 40.57 MT in the same period last year.
C ...
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- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Australian Coal Association
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