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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, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- The Treasury - Australian Government
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
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