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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, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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Showing 31 to 35 news of total 6871 |
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- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Minerals Council of Australia
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
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