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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, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Minerals Council of Australia
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- The University of Queensland
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
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