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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, 03 May 13
SHIP OWNERS ARE INVESTING HEAVILY IN DRY BULK CARRIER NEWBUILDINGS ONCE MORE: IS THERE ANY RATIONALE? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market remains heavily oversupplied and just as the orderbook of newbuildings had began to shrink, it seems that sh ...
Wednesday, 01 May 13
NEWCASTLE PORT SHIPPED 23.14 PER CENT MORE COAL WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,997,729 tons of thermal and coking coal for week ended 0700 hours 29 April 2013, Newca ...
Tuesday, 30 April 13
KATINGAN RIA THERMAL COAL TO START PRODUCTION FROM EARLY 2014
COALspot.com - Realm Resources Ltd. (ASX: RRP) has announced the completion of the Feasibility Study for its 51% owned Katingan Ria thermal co ...
Monday, 29 April 13
FIRST TRADES OF SGX API 8 CFR SOUTH CHINA COAL SWAP
COALspot.com - The SGX API 8 CFR South China Coal Swap went live for clearing on SGX-DC today with a total volume of 25,000 metric tonnes (25 lots). ...
Sunday, 28 April 13
SUB BIT INDONESIA COAL & CFR SOUTH CHINA COAL SWAPS STAY POSITIVE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average May 2013 delivery has gained 0.34 percent and CFR South China coal shipment gai ...
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- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- PTC India Limited - India
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
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