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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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Monday, 09 June 14
INDO SUB-BIT COAL SWAPS FOR Q3,Q4 OF 2014 AND Q1 2015: LOST ON DAY AND MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 continue last week’s trend or lost on day, week and on month according to Asia ...
Monday, 09 June 14
API 8 CFR SOUTH CHINA COAL SWAP Q3 14 DELIVERIES LOST 4.61% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 4.61 percent month on month and closed at US$ 71.62 per mt a ...
Sunday, 08 June 14
DRY BULK MARKET RATES FOR PANAMXES TO REMAIN VOLATILE; NO IMPROVEMENTS SEEN OVER THE WEEK
COALspot.com: Cape index increase pushes BDI index to 989 points week on week. The BDI firmed up by 5.88 pct and closed at 989 points week ended 6 ...
Saturday, 07 June 14
EVERYTHING CHANGES, AND NOTHING ABIDES - HERACLITUS
A couple of weeks ago, and while everyone was focusing on the struggling freight market, Russia and China made history by signing a three-decade lo ...
Saturday, 07 June 14
FIRST BITE AT ANTI-CORRUPTION CLAUSE - BIMCO
In recent years a number of countries have introduced anti-corruption legislation which, unfortunately, fails to recognise the practical implicatio ...
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- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Petron Corporation, Philippines
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- CNBM International Corporation - China
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
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