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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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Thursday, 08 May 14
INDONESIAN COAL PRICE REFERENCE IN MAY CRASHES THROUGH $74
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down again the coal bench mark price by US$ 1.21 / MT to ...
Wednesday, 07 May 14
THE DRY BULK MARKET HAS NOTED ANOTHER WEEKLY POSITIVE GAIN
Chartering (Wet: Softer- / Dry: Stable+)
The Dry Bulk market has noted another weekly positive gain, driven by the Capesize segment, but we ne ...
Wednesday, 07 May 14
SGX ENHANCES ITS COMMODITIES PRODUCT OFFERING
COALspot.com: SGX is building up its bulk commodity product offerings with 9 more derivative contracts over the next 2 months, subject to regula ...
Tuesday, 06 May 14
NEWCASTLE COAL EXPORT SLIPS 7.92% WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 5 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland ...
Monday, 05 May 14
HUANENG CLEAN ENERGY RESEARCH INSTITUTE HAS CONFIRMED TO SPEAK AT CCF2014
Press Release: Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12,13, 2014 in Beijing, China. We are glad to invite ...
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- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- PTC India Limited - India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- The University of Queensland
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
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