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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, 30 January 14
JPU SETTLEMENT PRICE AS A BENCHMARK WILL DECLINE IN IMPORTANCE BUT REMAIN RELEVANT, SAYS WOOD MACKENZIE
JPU price will remain above spot, trending closer to spot till 2015 then increasing to 2035.
Japanese Power Utilities (JPU) are approaching a cru ...
Thursday, 30 January 14
PANAMAX MARKET IS SOFTENING ON LESS ACTIVITY IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic rates have been slowly sliding but ows can still achieve decent money for TArv´s. USG positions still being fixed in re ...
Tuesday, 28 January 14
GLOBAL COKING AND STEAM COAL PRODUCTION HAVE GROWN 2% TO 3% TO ABOUT 7.1 BILLION TONNES AS OF THE END OF 2013 - VDKI
COALspot.com (Press Release): Initial figures on the world hard coal market at the VDKi ((Association of Coal Importers - German) New Year’s R ...
Tuesday, 28 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS JUMP 13.75% WEEK ON WEEK
COALspot.com: In the week ended 27 January 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 28 January 14
RESOURCE NATIONALISM OR PROTECTIONISM FOR THE MINING AND EXTRACTIVES INDUSTRY - JOHN WHITTAKER & MICHAEL SWANGARD
Resource nationalism or protectionism for the mining and extractives industry as well as soft commodities sector and the oil industry.
‘Res ...
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- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- VISA Power Limited - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
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