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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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Wednesday, 10 April 13
US COAL CONSUMPTION TO INCREASE FROM 889 MMST IN 2012 TO 948 MMST IN 2013 AND 957 MMST IN 2014 - EIA
Based on estimates for the first quarter of 2013, American coal production has continued to decline.
Total production is down 9.9 million short t ...
Wednesday, 10 April 13
DRY BULK FREIGHT RATES SEEN MOSTLY STABLE IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS WORLDWIDE
In its latest report, BIMCO forecast that for the coming six weeks, Capesize time charter average rates will remain subdued around $4,500-8,500 per ...
Monday, 08 April 13
SUB-BIT INDONESIA COAL SWAPS: UPWARD TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 2.71 percent and CFR South China coal shipment&nbs ...
Sunday, 07 April 13
CHARTER RATES ARE UNDER PRESSURE DUE TO DECLINING DEMAND - VISTAAR
COALspot.com - The freight market continued to fall further with all the indices down.
The BDI was down by 5.38 pct closing at 861 points and the ...
Friday, 05 April 13
SGX API 8 CFR SOUTH CHINA COAL SWAPS TO GO LIVE
COALspot.com - The Exchange has announced that the SGX API 8 CFR South China Coal Swap will go live for clearing on SGX-DC starting from 29 Ap ...
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- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Planning Commission, India
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Agrawal Coal Company - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- PTC India Limited - India
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
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