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Thursday, 30 January 14
TANKER PROFITABILITY IS THE 'MILLION-DOLLAR' QUESTION FOR SHIP OWNERS THIS YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The tanker market conditions are expected to remain challenging throughout the year for tanker owners, but even more pressing will be the issue of actual profits from tanker chartering operations. After all, ship owners can still book profits, even in adverse market conditions. According to the latest report from shipbroker Intermodal, this question will linger for the most part of 2014.
Among the positive signs recognized from Mr. Stelios Kollintzas, of Intermodal's Tanker Chartering department, is the fact of last year's growth of seaborne trade by 3.8%. Another positive factor was the fact that Europe has returned in positive GDP growth numbers, while China is still growing with a healthy rate of 7.3%. The above could be interpreted as reason for cautioned optimism of the tanker market's future prospects moving forward.
On the other hand, however, "there is a lot that will depend on the supply/demand relationship, where the imbalance is still considerable. Although another healthy year in ship recycling activity is an additional positive sign against the threat of over-tonnaging, this must continue in 2014, where the tanker fleet is expected to grow by 4%. On the other hand, demand growth is forecasted by the IEA (International Energy Agency) to rise by 1.1 mb/d during the same time", Mr. Kollintzas said.
He added that "on the crude oil tankers, a soft market during most of 2013 for the VLCCS ended with a surge in freight rates due to China’s strong demand and some Chinese refineries restarting operations by filling their storage tanks. As such, rates rose from USD 10,000/pd on September to USD 50,000/pd in December. Although VLCC rates eased back in early January at previous levels, bad weather, delays and increased number of cargoes from Libya, storming Aframax and Suezmax rates in North Sea and Med/B.Sea, also led to another VLCC market turnaround. This is to say, that while Suez/Aframaxes have enjoyed rates over USD 100.000/pd during mid January, VLCCs have also seen their earnings at an average of around USD 40,000/pd in January, being a result of Owners ballasting west in order to take advantage of the firm market conditions there, while leaving a decreased number of tonnage in the MEG", Kollintzas noted.
Meanwhile, according to the analyst, several factors have come together in order to shape what the crude oil tankers have experienced in the beginning of the year. "However, the present good market has already started to cool off and is not expected to last. Rates will stabilize at a lower average and volatility is likely to prevail. Demand from Far East nations will be the driving force for VLCCs in the East, increased rate of homegrown US oil production is already a great concern for Suezmax Owners West, and volatility originating from delays and ice restrictions will be the key determinant for Aframaxes", Kollintzas mentioned.
PRODUCT TANKERS
In the product tanker market optimism prevails, as for many this will be the first segment to see a recovery in 2014. "Structural changes in trade flows along with expanding refining capacity in the Middle East and Far East will drive the product tanker market. Such change in trade flow has already been seen in the Atlantic, where traditional front-haul routes into the US have reversed as more oil products are now being exported. While these routes have historically been serviced by MR-Handy tonnage, it will be no surprise if LR1 and LR2 tankers take advantage of the increased exports because of their more cost efficient aspects. Going East of Suez, Middle East refineries are setting up to play an active role in exporting both to the East and the West petroleum products. Such trend is expected to benefit both MR tankers and LR tankers for long-haul shipments", said Kollintzas.
Intermodal's analyst concluded that "despite the large number of product tankers that are expected to hit the water, the fundamental changes stated above are expected to increase tanker demand. However, it will be still challenging to find the perfect balance. 2014 will be a very interesting year for the tanker industry, as it tries to find its new role within an ever-changing global trade environment".
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 06 February 14
THE WORLD LARGEST COAL EXPORTER SHIPPED AROUND 35.90 MMT OF COAL IN DECEMBER 2013
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $2* billion worth ...
Thursday, 06 February 14
PANAMAX: FAR EAST IS ALMOST ABSENT AND ATLANTIC ON SLOW STEAM
Handy
Due to ongoing Chinese New Year the market is still quiet. Slowly we can see some fresh coal cargos entering the market with second half Feb/ ...
Wednesday, 05 February 14
DRY BULK MARKET HAS LOST FURTHER GROUND THIS PAST WEEK - INTERMODAL
COALspot.com: The Dry Bulk market has lost further ground this past week as activity ex-Far East disappeared into the Chinese holidays and owners id ...
Wednesday, 05 February 14
MARKET INSIGHT - TASOS PAPADOPOULOS
KNOWLEDGE TO ELEVATE
COALspot.com: Let's take a break from market prospects, numbers, order book etc. and shed some light on the conclusions of ...
Tuesday, 04 February 14
NEWCASTLE PORT'S WEEKLY COAL EXPORTS HIT NEW HIGH OF 3.53 MMT
COALspot.com: In the week ended 3 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
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- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
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