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Friday, 23 May 14
DRY BULK NEWBUILDING CANCELLATIONS COULD HELP SUPPORT MARKET IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The dry bulk market's demise over the past few months maybe has come as a surprise to many, but analysts and shipbrokers are looking forward to the coming months with more optimism, mainly as a result of improving conditions in terms of tonnage supply. According to the latest weekly report from shipbroker Intermodal, "things have started to look brighter for several of the OECD countries, with both Europe and the U.S. seeing an increase in their respective growth forecasts. For the latter, many are expecting an improvement over the second half of the year, as the ample cash flow and improved demand should eventually boost their imports significantly. These are more likely to effect the tanker and more importantly container markets and should give both these a boost. It doesn’t just stop there though".
According to Mr. George Lazaridis, Research Analyst with Intermodal, "there is still ample seaborne trade to be seen this year and as the fleet growth has now been limited, shipping markets should be able to perform better then what they had 2-3 years back. In the dry bulk market we have seen 240 newbuildings delivered up until now, while from the remaining 584 vessels scheduled for 2014, a significant number are likely to either be delayed or even cancelled.
It is important to note here that even during 2013 and while the market was on a more optimistic tone, the combined slippage and cancellation rate was 36.5%, while during 2014, 58 newbuildings have already either been re-scheduled for post 2014 or cancelled. Similarly, in the Tanker sector deliveries for this year are mild in contrast to past years. What’s more is that the Tanker sector also holds much better trade prospects for the remainder of the year and this could lead to a better year in terms of earnings", he noted.
In an attempt to explain the lacklustre performance of the shipping markets during the first few months of 2014, Mr. Lazaridis noted that "the recent revision by the OECD of its global growth forecast has sparked a debate as to the potential outcome these new figures will have on seaborne trade. The main concern has been the slower expansion of China and other emerging markets. These markets have been the prime movers of trade over the past decade and as we witnessed over the past months, things are starting to become a tighter in terms of activity of bulk commodities.
The most important factor has been the crackdown on lending by the Chinese, which in turn prompted many organizations to revise their forecasts on Chinese GDP this year from a previous prediction of 8.2 percent, down to 7.4 percent. At the same time, many are confident that should there be a sharp slowdown in economic activity, the People’s Bank of China will step in and ease some of its monetary policies. Nevertheless, we have already seen these lending restrictions take effect on certain trades, with even difficulties in issuing letters of credit by some traders cutting down their import volumes", he said.
Mr. Lazaridis added that "the dry bulk market has felt the main brunt of these new trends, with the spring season being more limited in cargoes than usual and rates having taken a sharp turn for the worst through most of the past months. This has caused many to revise their ideas as to the overall freight market performance for 2014 and has even brought a halt in the previously peaking SnP activity, pushing for a correction in asset prices. Early May has seen an average of 3% drop in dry bulk asset prices compared to where they stood at the end of April and as many potential buyers are waiting for further corrections, this downturn could easily continue at least up until the first half of the summer".
Concluding, he noted that "all this could possibly see for a higher investment interest especially come September were we typically start to see a firmer freight market in the Dry Bulk, Tanker and Container markets. It looks as now it’s a bit of a “wait and see” game and as the clouds of uncertainty clear out we should end up with a clearer picture as to where the market is going".
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 04 July 14
US: WEEKLY COAL PRODUCTION SLIGHTLY UP W-O-W
COALspot.com – United States the world's second largest coal producer, produced approximately 19.4 million short tons (mmst) of coa ...
Friday, 04 July 14
PARAM MITRA COAL RESOURCES SECURES US$ 7.5M INVESTMENT FROM TEMBUSU PARTNERS
Param Mitra Coal Resources Pte Ltd (“PMCR”), which owns two operating coal mines in Indonesia, has secured from Singapore private equit ...
Thursday, 03 July 14
BUMI TRANSFERS 19% OF KPC STAKE VALUED AT US$ 950 MILLION TO CIC
COALspot.com: PT. Bumi Resources announces that 19% of its holdings in Kaltim Prima Coal (KPC), valued at US$ 950 million, has been transferred to ...
Thursday, 03 July 14
PANAMAX : IN THE ATLANTIC, OWNERS ARE WILLING TO FIX AT ABOUT $2.5K PER DAY - FEARNEYS
Handy
In its latest weekly report, shipbroker Fearneys noted that, this week seems to have been more of a wait and see game between owners and ch ...
Wednesday, 02 July 14
NEWMONT FILES FOR INTERNATIONAL ARBITRATION ON ORE EXPORT BAN - THE JAKARTA POST
PT Newmont Nusa Tenggara (NNT), a subsidiary of United States-based Newmont Corporation, has filed for international arbitration against the govern ...
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- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- The University of Queensland
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- MS Steel International - UAE
- CNBM International Corporation - China
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
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