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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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Thursday, 09 May 13
KILLARA AUSTRALIA ACQUIRES 80% INTEREST IN BORNEO EMAS HITAM
COALspot.com - Killara Resources has announced that, the company has signed a binding MoU to acquire an 80% equity interest in PT. Borneo Emas Hitam ...
Thursday, 09 May 13
THE WORLD LARGEST POWER PLANT COAL EXPORTER SHIPPED 36 MILLION TONS OF COAL IN MARCH
COALspot.com: Indonesia, the world largest multi grade coal exporter has shipped 36.165* million tons of coal in March 2013.
Ac ...
Thursday, 09 May 13
DRY BULK SHIP OWNERS KEEP BUILDING NEW VESSELS ON THE BACK OF LOWER PRICES AND IMPROVED MARKET PROSPECTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the doom and gloom that the dry bulk market has experienced during the past couple of years and especially during 2012, ship owners have inc ...
Thursday, 09 May 13
HANDY : RBCT ROUNDS FIXED AT USD 8000 DOP ECI - FEARNRESEARCH
Handy
The atlantic market started to pick up with new orders. The USG-Feast was at USD 20k and Black sea-feast was at USD 12k. The pacific mkt rema ...
Wednesday, 08 May 13
PANAMAX VESSELS PROVE TO BE "STARS OF THE MONTH" FOR THE DRY BULK MARKET DURING APRIL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
They have taken a beating on various occasions during the past few years of the dry bulk market's crisis, but the fact remains, that despite the he ...
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- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Planning Commission, India
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Economic Council, Georgia
- White Energy Company Limited
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
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