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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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Tuesday, 14 May 13
KALIMANTAN COAL
Press Release : After a very successful conference in 2012, the second annual event will address latest market developments and address the future p ...
Tuesday, 14 May 13
NEWCASTLE PORT'S COAL EXPORTS FALL 6.83 PERCENT
COALspot.com - Newcastle port in Australia has loaded 2,771,891 tons of thermal and coking coal for week ended 0700 hours 13 May 2013, Newcast ...
Monday, 13 May 13
SGX ASIACLEAR OTC COAL SWAPS : RELATIVELY STABLE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average June 2013 delivery has gained 0.15 percent and API 8 CFR South China Coal shipment&nb ...
Saturday, 11 May 13
INDONESIA TO INDIA COAL FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT NEXT WEEK
COALspot.com - This week the market remained flat compared to last week. BDI slightly up 0.68 pct and closed at 884 points and the cape size index u ...
Friday, 10 May 13
U.S. PRODUCED TOTALED APPROXIMATELY 18.5 MMST OF COAL W/E 4 MAY 2013
COALspot.com - U.S. produced totaled approximately 18.5 million short tons (mmst) of coal in a week (For the week ended 4 May, 2013), EIA said in it ...
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- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Australian Coal Association
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Planning Commission, India
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
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