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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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Sunday, 13 April 14
INDONESIA TO INDIA FREIGHT MARKET DECLINE CONTINUES
COALspot.com: The freight market continued to drop this week and BDI almost touched 1000 points. BDI closed at 1002 points fell 16.85 pct week o ...
Saturday, 12 April 14
HOW DO YOU CALCULATE LOSS OF EARNINGS FOLLOWING A COLLISION? - INCE & CO
KNOWLEDGE TO ELEVATE
The recent case of Astipalaia vs Hanjin Shenzhen [2014] EWHC 120 (Admlty) has revisited the existing case law on asses ...
Friday, 11 April 14
US COAL PRODUCTION IN MARCH INCREASED 9.69% TO 82.6 MMST MONTH ON MONTH
COALspot.com – United States the world's second largest coal producer, produced approximately 19.10 million short tons (mmst) of coal ...
Thursday, 10 April 14
DRY BULK MARKET IS RISING CLAIMS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the recent fall of the Baltic Dry Index (BDI), when one compares the first quarter of 2014, to similar quarters of the recent past, it i ...
Wednesday, 09 April 14
DRY BULK MARKET STRUGGLED THROUGHOUT THE WEEK - INTERMODAL
The Dry Bulk market struggled throughout the week but the poor performance across the board didn't allow for any positive reversal, pushing ...
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- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Central Electricity Authority - India
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
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