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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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Monday, 25 March 13
BUNKER FUELS ARE ABOUT TO GET CLEANER, BUT AT WHAT COST? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The cost of bunkers is nowadays the driving force behind most ship owners' major decisions, with regulations bound to change in many parts of the w ...
Sunday, 24 March 13
THE SUB-BIT INDONESIA'S COAL SWAPS FOR Q2 DELIVERY PRICE LOST 7.47 PERCENT PMT M-O-M
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 3.39 percent and CFR South China coal shipment 2.65 ...
Sunday, 24 March 13
FREIGHT MARKETS CONTINUED TO FIRM - VISTAAR
COALspot.com - This freight market continued to remain firm in all segments except for cape index which softened slightly.
The BDI was up by 4.60 ...
Sunday, 24 March 13
DRY BULK MARKET PROSPECTS OFFER ROOM FOR RESTRAINED OPTIMISM SAYS SHIP OWNER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its announcement regarding its annual performance, ship owner Frontline offered some useful insight on the future prospects of both the dry bulk ...
Saturday, 23 March 13
WORLD COAL TRADE FIRST PASSES 1 BILLION TONS IN 2012 - VEREIN DER KOHLENIMPORTEURE E.V
Press Release: Hard coal imports to Germany on the previous year's level in spite of regenerative energies. Imports for power plants at an all-time ...
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- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Central Electricity Authority - India
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- The University of Queensland
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
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