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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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Sunday, 28 April 13
PANAMAX FREIGHT COULD BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - This BDI closed slightly lower at 871 points (down by 1.91 pct) mainly due to drop in the Panamax index by almost 10 pct.
Th ...
Saturday, 27 April 13
HANDY : SLIDING ; PANAMAX : POSITIVE ; CAPESIZE : STILL ON ITS KNEES - FEARNRESEARCH
Handy
The Atlantic markets started sliding with no fresh cargoes seen in the market. The USG-Feast was at USD 18k and Black sea-Feast was at USD 11 ...
Saturday, 27 April 13
2ND CHINA INTERNATIONAL SHALE GAS SUMMIT
Press Release - 2nd China International Shale Gas Summit, 10-13 September 2013 | Chengdu, China
*The largest annual event for the shale gas indus ...
Friday, 26 April 13
LIMA SUMMIT IN JULY TO HIGHLIGHT LATIN AMERICAN MINING POTENTIAL
COALspot.com - Latin American mining industry officials and their private sector counterparts will be gathering in Lima, Peru on July 1-2 for the La ...
Wednesday, 24 April 13
FUTURE US POWER MARKET SHARES OF COAL, NATURAL GAS GENERATORS DEPEND ON RELATIVE FUEL PRICES - EIA
COALspot.com - In recent years, in US, natural gas competed more effectively with coal as a fuel for electricity generation as the cost of operating ...
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- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
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