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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, 07 May 13
NEWCASTLE PORT'S COAL EXPORTS HOLD STEADY WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,975,160 tons of thermal and coking coal for week ended 0700 hours 6 May 2013, Newcastl ...
Monday, 06 May 13
INDONESIAN COAL PRICE REFERENCE FALLS CONTINUE
COALspot.com - The Indonesian government’s declared coal bench mark price has lost $ 3.23 / MT in May 2013.
The monthly coal pr ...
Sunday, 05 May 13
SUB-BIT FOB INDONESIA COAL - MIXED TREND; API 8 CFR SOUTH CHINA COAL - POSITIVE TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average June 2013 delivery has gained 0.28 percent and API 8 CFR South China Coal shipment&nb ...
Saturday, 04 May 13
INDONESIA TO INDIA PANAMAX FREIGHT : FLAT TO SOFT - CAPT. REDDY
COALspot.com - The demand for iron ore picked up and its pushed up the cape size index by 7.86 pct. Cape index closed at 1,344 points. The BDI ...
Friday, 03 May 13
US PRODUCED 17.9 MILLION SHORT TONS (MMST) OF COAL IN A WEEK
COALspot.com - U.S. produced totaled approximately 17.9 million short tons (mmst) in a week (For the week ended April 27, 2013), EIA said in its lat ...
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- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- The University of Queensland
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
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