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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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Monday, 15 December 14
INDONESIAN COAL PRICE REFERENCE CRASHES THROUGH $65
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in December. HBA for t ...
Monday, 15 December 14
CFR SOUTH CHINA COAL SWAP LOST $3.37 M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3,37 (-5.33%) month over month and US$ 1.58 (-2.57%) ...
Monday, 15 December 14
Q1' 15 FOB NEWCASTLE COAL SWAP CLOSED AT $ 51.45 ON 12 DEC
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.45 per MT (-2.74%) closed at US$ 51.45 on 12 December month over ...
Sunday, 14 December 14
FREIGHT RATES ARE EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The Baltic Dry Index (BDI), a measure of commodity-shipping costs, fell 12.12 pct to 863 points week ending 12 December 2014.
Th ...
Friday, 12 December 14
LIMITED TRADING AND AN OVERSUPPLY OF TONNAGE PUSHED HANDY SIZE SHIPS TO DOWN IN USG
Handy
We have seen the TA spot market come down this week lead by limited trading and an oversupply of tonnage in the USG, Fearnleys said in its ...
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- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- MS Steel International - UAE
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Planning Commission, India
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
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