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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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Friday, 18 October 13
DRY BULK MARKET ON "PAUSE" MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been on "pause" mode over the past week, after China's return from the week long holidays. The industry's benchm ...
Friday, 18 October 13
US PRODUCED 6.7% MORE COAL W-W
COALspot.com – United States the world’s second largest coal producer produced approximately 18.9 million short tons (mmst) of coal in a ...
Thursday, 17 October 13
CAPESIZE: RATES ARE AGAIN MOVING UPWARDS - FEARNRESEARCH
Handy
Activities were obviously slowed down in the Pacific basin. There were only few coal movements which fixed around USD 15-16k for ships in Sin ...
Thursday, 17 October 13
SGX TO LAUNCH "SGX THERMAL COAL FUTURES" NEXT MONDAY
COALspot.com: SGX is to launch two thermal coal futures contracts, SGX API 8 CFR China Coal Index Futures and SGX IHS McCloskey Indonesian Sub-bit F ...
Thursday, 17 October 13
CHINA'S COAL IMPORTS DOWN 9.4% TO 25.96 MMT IN AUGUST
COALspot.com: China's August Imported coal volumes down 9.4% m-m but up 27% y-y, BNP said in its latest China Coal & Power report released on 1 ...
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- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Aditya Birla Group - India
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Australian Coal Association
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
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