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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, 29 March 13
SUB-BIT INDONESIA COAL SWAPS: UP 0.55 % WOW; CFR SOUTH CHINA COAL CONTRACT: UP 0.23 % WOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.55 percent and CFR South China coal shipment&nbs ...
Thursday, 28 March 13
SHIP OWNERS KEEN ON ACQUIRING SECOND HAND TONNAGE, AS WELL AS NEW BUILDINGS IN CONVENTIONAL SEGMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The recent rally of the Baltic Dry Index (BDI), coupled with renewed optimism, at least in some parts of the wet market, have prompted many ship own ...
Wednesday, 27 March 13
PTBA HAS CONCLUDED US$ 16.14 BILLION WORTH OF COAL SALES AND PURCHASE AGREEMENT WITH PLN
COALspot.com - PT. Bukit Asam, a 32 years old Indonesian state owned coal miner has signed a coal sales and purchase agreement with PT PLN, (a state ...
Wednesday, 27 March 13
SHIPPING CONFIDENCE REACHES HIGHEST LEVEL FOR TWO YEARS - MOORE STEPHENS
Overall confidence levels in the shipping industry recovered to their highest level for two years in the three months ended February 2013, according ...
Tuesday, 26 March 13
NEWCASTLE PORT SHIPPED 2.39 MMT OF COAL W/E 25 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2.396 million tons of thermal and coking coal for week ended 0700 hours 25 March 2013, N ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- The University of Queensland
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
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