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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, 15 October 13
NEWCASTLE PORT SHIPPED 6.50% MORE COAL W-O-W
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 6.50 per cent week on week to 3.19 million mt for ...
Monday, 14 October 13
MEMR OF INDONESIA SETS THE COAL'S SPOT PRICE AT US$ 76.61 FOR OCT'13 DELIVERY
COALspot. com - The Indonesian government has revised down government declared coal bench mark price by US$ 0.28/ MT to US$ 76.61 for October 2013 d ...
Monday, 14 October 13
CARBON POLICIES UNLIKELY TO PREVENT A COAL-FUELLED WORLD - WOOD MACKENZIE
China will propel coal growth but US, Europe and Asia will sustain global demand.
At the World Energy Congress (WEC) today Wood Mackenzie's Pres ...
Sunday, 13 October 13
Q4'13 DELIVERY SUB-BIT INDO COAL SWAP FALLS SEVEN STRAIGHT WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery fell 1.72 percept month on month on Friday 11 October 201 ...
Sunday, 13 October 13
API 8 CFR SOUTH CHINA COAL - AVERAGE Q4 2013 DELIVERY FELL 0.30 PERCEPT ON WEEK
COALspot.com : API 8 CFR South China Coal swaps for average Q4 2013 delivery fell 0.30 percept week on week on Friday 11 October 2013. The CFR South ...
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- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- The University of Queensland
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- ASAPP Information Group - India
- PTC India Limited - India
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
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