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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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Sunday, 26 January 14
FREIGHT RATES FALL FURTHER ON LACK OF CARGOES - SOLYM CARRIERS
COALspot.com: The freight market has continued to soften further this week with BDI down by 12.31 pct. BDI was closed at 1,246 points week ended 24 ...
Friday, 24 January 14
US COAL PRODUCTION UP 3.9% ON WEEK IN WEEK ENDED SATURDAY - EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.1 million short tons (mmst) of coal in ...
Friday, 24 January 14
DRY BULK MARKET STRUGGLING TO FIND FIRM FOOTING IN START OF 2014 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been faltering since the start of 2014, struggling to hold its ground as low seasonal demand has hindered further growth in ...
Thursday, 23 January 14
PANAMAX : THIS WEEK THE ACTIVITY CAME DOWN DRAMATICALLY - FEARNRESEARCH
Handy
With the Chinese New Year approaching the activity and rate levels are sliding in both hemispheres. Rates in the Atlantic have knocked off so ...
Thursday, 23 January 14
30 DAYS LEFT TO REGISTER FOR PACIFIC BASIN COAL CONFERENCE
COALspot.com: (Press Release) : IHS Inc. (NYSE: IHS), the leading global source of information and analysis, will host the Pacific Basin Coal Confer ...
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- Mercator Lines Limited - India
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- Parliament of New Zealand
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- Petrochimia International Co. Ltd.- Taiwan
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- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
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- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
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- Karbindo Abesyapradhi - Indoneisa
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- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
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- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
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- Australian Coal Association
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- PTC India Limited - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Minerals Council of Australia
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- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
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- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
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- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
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