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Friday, 17 October 14
DRY BULK SHIPPING'S OUTLOOK NOW SHIFTING TO A LESS PROMISING ONE, SHIP PRICES EXPECTED TO FOLLOW SOON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 China’s and other Asian countries’ return to the dry bulk market last week, didn’t trigger the hoped support towards the dry bulk market. Instead, the Baltic Dry Index retreated below the 1,000 point mark, a psychological barrier of the past couple of years. Similarly, dry bulk ship prices keep dropping, expectations look dimmer by the day and new building prices are probably the only indicator in the sector still displaying some sort of resistance refusing to adjust accordingly to this new reality, shipbroker Intermodal noted in its latest weekly report.
According to Panos Makrinos, Intermodal’s SnP Broker, “in addition to the current order book, Vale seems to have finally cracked the “code” for entering its gigantic ships to the Chinese shores and the fate of coal exports to China are currently a big question mark following the new standards set by the government there. Optimism for a stronger Q4 has given its way to panic about next year’s outlook and in many cases it feels like we are once again being overrun by sentiment. What’s there to look forward to?”, he wondered.
The broker noted that “sale and purchase activity has been at healthy levels and -despite the large number of candidates- the market has remained highly liquid with a wide range of buyers for all sizes and age groups. Demo prices are very strong and activity is finally picking up to reflect the rising need for tonnage exiting the market. Prices for prompt re-sales are in par with newbuilding prices after a long time and vessels being delivered now have little or zero differences from the designs that yards are marketing for construction. These facts along with the rising finance gap that has been widening throughout the year as private equity started to distance itself from shipping, should provide enough disincentives for new orders going forward. Isn’t this the perfect storm that counter-cyclical investors are looking for?”, Makrinos asked.
Meanwhile, he added that “on the other side of the fence, tankers are displaying a much rosier picture. The M/T Ariadni (166,000dwt – blt 2009) is being reported sold for a very solid USD 56.5m and analysts are becoming increasingly optimistic about the outlook of the crude market, commenting on the low order book and rising demand for higher ton-mile cargo movements. Sale and purchase activity is steadily rising and asset values across all sizes are beating last done values every time. The New building market is also experiencing this euphoria with prices picking up at least 5% within weeks, completing an image very different to the one during the first quarter of the year”, he stated.
Concluding his analysis, Makrinos wondered “what has changed? Are we going to shoot ourselves in the foot once again? Hopefully market pundits will understand that this long-awaited improvement has been achieved due to the entire sector patiently and painfully working towards a healthier equilibrium and we will avoid making the “recent” mistakes of other sectors”, he concluded.
Meanwhile, over the course of the past week, “the new building market witnessed increased activity for a second week in a row, while the newly found love for the tanker sector seems to be what is mainly supporting the increased volume of orders, as the interest in the dry bulker side is currently limited to big operators. The changes in asset prices are also evident of this trend, with the average price of Suezmaxes ticking further up and that of Capes touching $55.0m, a level last witnessed around the begging of the year. Should the performance of freight rates in the crude carriers market in the next couple of months improves further or even stabilizes around the current levels, it is more than possible that it will pushed the price of the VL back above $100.0m or much higher, given the strong resistance it displayed during the past couple of months when the freight market received a lot of downward pressure. In terms of recently reported deals, Thenamaris has placed an order for 4 LR2 (115,000dwt) at Sungdong, in S. Korea, for a price of US $ 56.0m each and with delivery set for 2017″, Intermodal said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 19 December 14
HOW WILL LOWER BUNKER PRICES AFFECT THE SUBSTANTIAL OVERCAPACITY IN DRY BULK MARKET? - BIMCO
As bunker fuel costs have come down from USD 600 per tonnes to USD 330 per tonnes in the past 6 months, much talk about increased ship speed have s ...
Friday, 19 December 14
U.S WEEKLY COAL PRODUCTION REACHED APPROXIMATELY 19.8 MMST; UP 1.0% WOW
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.8 million short tons (mmst) of coal ...
Friday, 19 December 14
HANDY: SOFTER TONE; PANAMAX: QUIET WEEK; CAPESIZE; PAINFUL WEEK
Handy
A softer tone for rates and volumes for the Supras, perhaps less apparent in the Pacific the last week before the season holidays and good ...
Thursday, 18 December 14
INDONESIA TO REVISE UP COAL OUTPUT TARGET TO 460 MILLION TONS IN 2015
COALspot.com: Indonesian government has revised up its next year coal output forecast to 460 million tons from its previous forecast of 421 million ...
Wednesday, 17 December 14
CAPES RATES SLIPPED BELOW $5,600/DAY, FELL 84% YOY
COALspot.com: In the very rare occurrence when the BCI stands below the BDI, words to describe market sentiment are probably poor, said Intermodal ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
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