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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, 23 May 14
U.S. WEEKLY COAL PRODUCTION SLIPS 1.8% WEEK ENDED MAY 17, 2014
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
Thursday, 22 May 14
HEAR SUCCESSFUL CASE STUDIES FROM 10 INDEPENDENT UNCONVENTIONAL GAS OPERATORS
Unconventional Gas Asia 2014 will provide a unique opportunity for Asia’s unconventional gas leaders to share their experience and expertise ...
Thursday, 22 May 14
CNPC-GAZPROM DEAL A MEDIUM - TERM POSITIVE FOR CHINA'S GAS SECTOR
Fitch Ratings says a 30-year deal in which Russia's OAO Gazprom (BBB/Negative) will supply gas to China National Petroleum Corporation (CNPC; A ...
Thursday, 22 May 14
CAPESIZE : RATES ARE STILL UNDER PRESSURE
Handy
A quiet start into the week in Far East, some fresh Indonesian coal order in the market. For trips within S.E. Asia, Supras are trading aro ...
Wednesday, 21 May 14
SHIPPING: MARKET INSIGHT - GEORGE LAZARIDIS
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 seabo ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- The University of Queensland
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Minerals Council of Australia
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
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