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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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Monday, 04 November 13
API 8 CFR S.CHINA COAL SWAP FOR Q3' 2014 DELIVERY CLOSED 3.65% HIGHER COMPARED TO Q1' 2014 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q4 2013 delivery fell 0.24 percept W-W on Friday 1 November 2013. The CFR South China Co ...
Sunday, 03 November 13
H2' 2014 INDONESIAN COAL PRICE ( SWAPS) SHOWS POSITIVE TREND
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’2014 delivery gained 0.24 percept week on week on Friday 1 ...
Sunday, 03 November 13
THE CAPE SIZE INDEX FELL 13.61 PCT W-W
COALspot.com: The freight market continued to soften on the cape and panamax sectors , however the supramax and handy size remained fairly firm.
...
Saturday, 02 November 13
DRY BULK SHIPPERS AREN'T CELEBRATING, BUT THEIR SILENCE IS GOLDEN - MARKET REALIST
In October, performance for major dry bulk shipping companies was mixed. Companies like DryShips Inc. (DRYS) had pulled back more than Diana Shippin ...
Friday, 01 November 13
US'S COAL PRODUCTION UP 0.9 PERCENT W-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.3 million short tons (mmst) of coal in ...
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- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- The University of Queensland
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
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