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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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Tuesday, 28 January 14
DRY BULK SHIP OWNERS RETREAT TO OLD 'HABITS', REFUSING TO DEMOLISH OLD VESSELS, THREATENING MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
If one thing is clear as we reflect on the 2013 shipping markets, it's that ship owners took advantage of low prices, in order to acquire newer ton ...
Monday, 27 January 14
MERCATOR SINGAPORE REPORTS 52% INCREASE IN EBITDA FOR Q3 FY 2014 AS COMPARED TO PREVIOUS QUARTER
COALspot.com: Mercator Lines (Singapore) Limited, a leading Indian-owned international dry bulk shipping company that operates a fleet of fourteen d ...
Monday, 27 January 14
13TH CLEAN COAL FORUM 2014
COALspot.com: (Press Release) - Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12 &13 2014 in Beijing, China. We a ...
Monday, 27 January 14
Q3 & Q4 API 8 CFR SOUTH CHINA COAL SWAPS CONTINUE TO REMAIN WEAK
COALspot.com: API 8 CFR South China Coal swaps for average Q1 14 delivery lost 4.45 percent month on month and closed at US$ 79.05 per mt as on Frid ...
Monday, 27 January 14
Q3 2014 SUB-BIT INDONESIA COAL SWAP LOST GROUND, ENDS AT $60 PMT
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost 2.29% pmt month on month on Friday 24 January 2014. Th ...
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- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
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- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
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- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- White Energy Company Limited
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
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