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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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Monday, 03 February 14
SUB-BIT INDONESIA COAL SWAP GAINED WEEK ON WEEK
COALspot.com – Swaps prices gained for thermal coal loading from Indonesia, the world’s largest exporter of the fuel, according SGX.
...
Monday, 03 February 14
API 8 CFR SOUTH CHINA COAL SWAP CONTRACTS FALL
COALspot.com: API 8 CFR South China Coal swaps for average Q1 14 delivery lost 4.71 percent month on month and closed at US$ 78.87 per mt as on Frid ...
Monday, 03 February 14
COAL FREIGHT RATES REMAIN UNDER PRESSURE
COALspot.com: The BDI is fell 50 pct over last one month which seems to be one of the lowest fall in last few years.
The BDI was down by 11 ...
Friday, 31 January 14
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 19.2 MMST W-O-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.2 million short tons (mmst) of coal in ...
Friday, 31 January 14
DRY BULK MARKET STILL ON A FALL, EXPECTED TO WORSEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is definitely in the doldrums since the start of the year, in what could only be described as a "lost" month for indus ...
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- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Planning Commission, India
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- The Treasury - Australian Government
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
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