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Thursday, 24 October 13
SHIP PRICES ARE INCREASING ON THE BACK OF IMPROVED MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating from its recent highs, ending yesterday at 1,786 points, down 61 points on the day, with Capesizes leading the decline. Still, according to shipbrokers, market sentiment remains positive, despite the fact that the average Capesize earnings have declined from their recent peaks of $42,000/day, down to $28,000/day. According to the latest weekly report from shipbroker 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 Mr. Yannis Olziersky, SnP Broker, "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" he noted.
The same story is taking place in 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. 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", Olziersky mentions.
He added that "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. 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", Olziersky concluded.
Commenting on the new building market this week, Intermodal said that "activity on the new building front is keeping its pace, with the majority of the deals coming to light this past week being for dry tonnage. Although we are trying to be as realistic as possible regarding this recent boost in new building prices for dry bulkers, the truth is that most of the contracts that are being inked lately, are steadily done on firmer and firmer prices, creating a higher market average for almost all sizes in the sector. Some of the most recently reported orders for Capes are displaying a clear trend that we should be soon moving into the mid $ 50s million territory for the segment, having us think that from that level the figure could easily jump to the $ 60.0m area, especially for earlier slots should demand continue to be strong and the freight market improve further in the next twelve months. In terms of new orders, Greek owner Alpha Tankers & Freighters, was reported placing an order of four firm Capesize vessels (180,000dwt) at Hyundai Mipo, in S. Korea, for a price of $ 56.5m each and with delivery set between 2015 and 2016".
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 07 November 13
THE ENERGY INDUSTRY'S RISING WATER CHALLENGE - WOOD MACKENZIE
Water poses a variety of business risks for the energy industry, and could play an influential role in shaping the future energy supply mix, accordi ...
Thursday, 07 November 13
HANDY : INDO/CHINA ROUNDS ARE SEEING BIDS AT AROUND $16K
Handy
In the Atlantic we have seen more activity this week with several fixtures being concluded at firm rates. USG/Feast been reported at 30k and ...
Wednesday, 06 November 13
THE BIGGER SIZE SEGMENTS LOST GROUND WHILE SUPRAS AND HANDIES HELD ON TO THEIR GAINS - INTERMODAL
Chartering (Wet: Stable+ / Dry: Stable- )
A mirror image of the week prior for the Dry Bulk market, as once more the bigger size segments los ...
Wednesday, 06 November 13
WILL NEW ORDERS DRIVE THE MARKET DOWN AGAIN ONCE DELIVERIES COMMENCE
"While there are many concerns on whether the new orders will drive the market down again once deliveries commence, the second half of 2013 has ...
Tuesday, 05 November 13
AUSTRALIA'S NEWCASTLE PORT SEES DROP IN COAL EXPORTS W-W
COALspot.com: In the week ended November 4, Power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totaled 2.77 m ...
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Showing 4026 to 4030 news of total 6871 |
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- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- VISA Power Limited - India
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- MS Steel International - UAE
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- PTC India Limited - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- White Energy Company Limited
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
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