We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Friday, 19 September 14
PRICES FOR DRY BULK CARRIERS HAVEN'T CORRECTED ENOUGH, DESPITE LOWER THAN EXPECTED FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 A lot has been said and written about the looming dry bulk market recovery over the past few months. However, even if this hasn’t been materialized, at least not yet, prices for dry bulk carriers haven’t abated that much. According to the latest report from shipbroker Intermodal this is due to a number of reasons, namely the overabundance of financing, given the rapid emergence of private equity funds, as well as the sellers’ expectations.
According to Intermodal’s weekly report, “cince the onslaught of 2013 the rising tide of asset prices had been primarily driven by the increasing freight market conditions and the improving sentiment as to the future prospects of the Dry Bulk markets. Having put behind them the “lean” years of 2011 and 2012, owners were starting to feel more confident about the conditions they would face moving forward. Many saw a more balanced market were the ore reasonable delivery schedule of newbuildings (compared to that of 2012) would be met with the equal demand growth that they had been accustomed to during the period post the 2008 crisis”.
Intermodal’s Research Analyst, Mr. George Lazaridis noted that, “this was a fairly reasonable assumption as there seemed to be nothing in sight that could stop the insatiable appetite from the developing economies for further growth and higher consumption of raw materials. This all proved the more reasonable when just at the start of the final quarter of 2013 a major rally in the freight markets started to take place, bringing earnings to levels that were long forgotten”.
Yet, as he noted “this rosy picture painted by many in their mind was already breaking at the seams. The freight market started to plummet back down to the levels seen in early 2013 and whispers started to emerge of an imminent slowdown in growth by the dry bulk’s major driving economy, namely China. Yet this did not seem to have the strong impact many would have anticipated in the secondhand market. Prices continued to climb at an extraordinary rate peaking late April early May, despite the fact that a promise of a strong spring market never materialized. Yet even after this, the correction was only marginal”.
So why is there still such optimism amongst buyers? and more specifically why still for the larger Capesize vessels? These are the questions posed rightfully so by the shipbroker’s analyst. According to Mr. Lazaridis, “many may be still convinced that appetite will still be there going forward for both iron ore and coal by the world’s second largest economy. In all truth there may well be a new stimulus plan just around the corner and things may well get back on track with regards to demand. But it seems there is a more indirect cause at play here.
While the continual increase in asset prices may be seen as a reflection of a more bullish approach by investors, it seems to be more the excess of financing and the high price ideas held by the few available sellers in the market. With regards to the former, one must not forget that finance was not easily available during 2011-2012, especially for secondhand purchases and as a consequence the large influx of cash has made most buyers willing to splash out more in order to fuel their expansion plans. This will inevitably have some consequences going forward as most of this readily available cash comes at a much higher cost then what the traditional bank driven finance would have”, he noted.
Lazaridis concluded that “as to the side of the sellers, there are few out there willing to part with their assets at lower prices than they have been used to seeing over the past couple of months, and holding a more optimistic view themselves, they are only truly willing sellers at the currently prevailing prices. The question that holds is how long will this new price reality hold? And will freight rates eventually show the recovery all these prospective buyers are hoping for?”, he wondered.
Source: Nikos Roussanoglou, Hellenic Shipping News
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 07 October 14
API 8 CFR SOUTH CHINA COAL SWAP HEADED SOUTH
COALspot.com: API 8 CFR South China Coal swap for delivery in November 2014 decreased US$ 1.10 (-1.64%) month over month and US$ 0.25 (-0.38%) ...
Monday, 06 October 14
' COAL-BY-WIRE' FROM SUMATRA TO JAVA - THE JAKARTA POST
Coal from the island of Sumatra accounts for most of Indonesia’s low-grade lignite, a low-quality coal that receives a poor price in internat ...
Monday, 06 October 14
THE IRON ORE SHIPPING BUSINESS IS FACING SOME ROUGH SEAS - EAST ASIA FORUM
The impact of Chinese demand on global iron ore prices is well known. A less acknowledged consequence of China’s emergence is the transformat ...
Sunday, 05 October 14
BALTIC DRY INDEX SLIPS 1.14%; BALTIC PANAMAX INDEX GAINED 9.91% WEEK ON WEEK
COALspot.com: The BDI was down by 1.14 pct and closed at 1037 points this Friday.
The Cape index was down significantly week on week or lost 5 ...
Friday, 03 October 14
U.S. WEEKLY COAL PRODUCTION UP 5.8% TO 19.9 MMST
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.9 million short tons (mmst) of co ...
|
|
|
Showing 3451 to 3455 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Eastern Coal Council - USA
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
|
| |
| |
|
