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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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Saturday, 13 April 13
THE FREIGHT MARKETS EXPECTED TO HOLD FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - This freight market firmed up this week and all sectors were up except for Supramax index.
The BDI was up by 1.62 pct closing at 8 ...
Friday, 12 April 13
DRY BULK SHIP OWNERS DEVELOPED NEWFOUND APPETITE FOR BULKERS DURING FIRST QUARTER OF 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's official; more and more ship owners operating in the dry bulk market appear to have developed a newfound optimism in the market's prospects. ...
Thursday, 11 April 13
HANDY: INDO - INDIA NOW BEEN REPORTED AT APS BASIS AT USD 10K+BB 85K - FEARNLEYS
Handy
The Atlantic markets remain with not many cargoes seen this week. The USG-Feast was at USD 18k and Black Sea-Feast was at USD 12k. The Pacifi ...
Thursday, 11 April 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 15.96 PERCENT LESS COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,545,914 tons of thermal and coking coal for week ended 0700 hours 8 April 2013, Newcas ...
Thursday, 11 April 13
TNEB HAS OPENED 4.2 MILLION TONS IMPORTED COAL TENDER
COALspot.com - TANGEDCO, the state run utility TANGEDCO (formerly known as TNEB), Tamil Nadu state owned electricity company has opened bids to purc ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Parliament of New Zealand
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Planning Commission, India
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
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