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Wednesday, 23 October 13
MARKET SENTIMENT IN THE DRY BULK SECTOR REMAINS POSITIVE - YANNIS OLZIERSKY
 Market sentiment in the dry bulk sector remains positive despite the latest correction in freight rates for the Capesize sector, which are sliding from their recent peak of USD 42k per day down to today’s levels of USD 28k per day, said Yannis Olziersky, SnP Broker, from Intermodal.
In addition to the strong Capesize market, which found support from the recent Chinese restocking and strong demand for iron ore, chartering activity for the other segments has also improved and is surging on the back of increased shipments of grains from the US Gulf and the Black Sea.
According to Intermodal's weekly report, The dry bulk market, it seems, is witnessing a U-turn in fate; bullishness, although restrained, has return to many market players since to them it appears as if the worst phase is now behind us and the market is expected to advance at a faster pace compared to that of last year. This restrained optimism has had its impact on second hand sales as well as on the new building market, as a significant number of vessels are changing hands at prices well above last done deals and sometimes well above Sellers’ ideas, due to the fact that competition between Buyers, in an effort to secure tonnage, is driving values well above recent levels.
Same story with the new building market, where slots at good shipyards are now scarce and offered prices have surged and are about 10-15pct higher compared to orders that were placed during 1H of 2013.
What will happen next? Are we on a firm recovery track or were the latest positive developments in freight rates based only on a typical seasonal spike? Having foresight in a volatile industry like shipping, which is highly dependent on so many different parameters, is difficult and dangerous to do.
Yannis Olziersky added in his research report that, on the other hand there are some irrefutable facts which cannot be overlooked. Seaborne commodities have increased about 6pct compared to last year; fleet growth increased about 5.8pct (year to date), which is the lowest we have seen during the last couple of years. Taking also into consideration that the world economy is on a recovery phase and that the global GDP is projected to increase at a higher rate compared to previous years it is expected that dry bulk commodities will keep trading at higher volumes compared to 2013.
At the same time it is expected that today’s rates will face a correction once Chinese iron ore inventories are replenished and the strong grain season comes to an end, he commended. There is no doubt that the market does not have the ability to grow at the same pace we experienced the past couple of months since the overcapacity issue is still there and uncertainty over the global economy remains despite better forecasts.
However, what is more important to note is that dry bulk fundamentals are expected to improve and as a result the average earnings for the years ahead look to be better compared to previous ones. Hence, taking a long term perspective and in the event that the global economy will remain firm on its recovery path, the demolition market keeps active and the new building ordering will hold near its current pace (i.e. at a more moderate pace compared with booming years), we see substantial signs to be optimistic and expect to have an overall upside in freight rates over the coming years, Yannis Olziersky concluded.
Compiled by:
Intermodal Research & Valuations | research@intermodal.gr
Analysts:
Mr. George Lazaridis | g.lazaridis@intermodal.gr
Ms. Eva Tzima | e.tzima@intermodal.gr
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Friday, 01 November 13
DRY BULK MARKET IN FIRST POSITIVE SIGN IN DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Owners of dry bulk carriers are well aware of the rollercoaster ride that has been the market for their vessels over the past few years. This trend ...
Thursday, 31 October 13
HANDY: ACTIVE; PANAMAX: QUIET; CAPESIZE: NO LIGHT
Handy
The handy market had an active week however not directly translated into the rates we´ve seen in the Pacific. We see more coal and baux ...
Wednesday, 30 October 13
INDONESIAN STATE OWNED COAL MINER HAS EXPORTED 7.02 MILLION TONS OF COAL IN 9 MONTHS
COALspot.com : PT. Bukit Asam, Indonesian state owned coal miner has sold 13.24 million tons of coal for the period January - September 2013. Accord ...
Wednesday, 30 October 13
DRY BULK MARKET HAS LOST FURTHER GROUND THIS PAST WEEK - INTERMODAL
Chartering (Wet: Firm+ / Dry: Stable-)
The Dry Bulk market has lost further ground this past week, as de-creased activity in both basins for both C ...
Wednesday, 30 October 13
CAPESIZE: DOWNWARD; SUPRAS AND HANDIES: STABLE - INTERMODAL
The Dry Bulk market has resumed its downward movement, noting another dip for a third week in a row. The larger size segments were responsible for p ...
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Showing 4036 to 4040 news of total 6871 |
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- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- White Energy Company Limited
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
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