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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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Tuesday, 22 October 13
KOWEPO INVITED BIDS FOR MULTI GRADE COAL
COALspot.com - Korea Western Power Co., Ltd. (KOWEPO), a Korean electricity generator intends to procure 240,000 tons of multi grade coal for its Ta ...
Monday, 21 October 13
SOUTH CHINA COAL SWAP FOR 2014 DELIVERIES SHOW A POSITIVE TREND
COALspot.com : API 8 CFR South China Coal swaps for average Q4 2013 delivery fell 0.02 percept M-M on Friday 18 October 2013. The CFR South China Co ...
Sunday, 20 October 13
Q3'14 SUB-BIT INDO COAL SWAP CLOSED AT $ 61.80 PMT W/E 18 OCT' 13
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery fell 0.93 percept month on month on Friday 18 October 201 ...
Saturday, 19 October 13
NICKEL ORE SHIPMENTS KEEP SUPRAMAX CHARTER RATES STEADY - CAPT. REDDY
COALspot.com : The futures freight market continued to go down which was reflected in the physical markets as well.
The BDI continued to be soft ...
Friday, 18 October 13
WOOD MACKENZIE FORECASTS CHINA WILL OUTWEIGH THE REST OF THE WORLD FOR BASE METALS DEMAND BY 2017
China set to account for 52% of 117mt base metals market by 2017
China is on track to exceed rest of the World demand by 2017, becoming the singl ...
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- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Indika Energy - Indonesia
- Planning Commission, India
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Australian Coal Association
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- The University of Queensland
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Aditya Birla Group - India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
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