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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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Wednesday, 16 October 13
NEW STRATEGIES AND OPPORTUNITIES IN A RAPIDLY EVOLVING COAL INDUSTRY
The 12th Annual Coal Markets assumes even more significance as the industry seeks more market information, inputs on trade strategies, supply and de ...
Wednesday, 16 October 13
CAPES: RATES DROPPED; PANAMAX: ADVANCED - INTERMODAL
After a month and a half of straight weekly positive closings, the BDI has finished the week in the red. Monday started slow as holidays in the East ...
Wednesday, 16 October 13
WILL THIS LATEST DRY BULK MARKET UPTREND PROVE TO BE AS LONG-LIVED OR JUST ANOTHER MOMENTARY SPIKE? - CHRISTOS MANZTIOS
COALspot.com: So here we are again facing the same old question: Will this latest market uptrend prove to be as long-lived as all owners hope or jus ...
Wednesday, 16 October 13
KOSEP TO IMPORT 0.49 MILLION TONS OF 4600 NAR COAL FOR JAN - FEB '14
COALspot.com - Korea South-East Power Co., a Korean generator and distributor of electricity on behalf of five Korean Gencos intends to procure 490, ...
Tuesday, 15 October 13
CHINA COAL IMPORTS TO KEEP GROWING IN THE YEARS TO COME, ALBEIT AT A SLOWER RATE - EVA TZIMA / NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest monthly report, shipbroker Intermodal highlighted the growing role of coal in the energy mix. According to Intermodal's research anal ...
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- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- The University of Queensland
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Marubeni Corporation - India
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Minerals Council of Australia
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
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