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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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Tuesday, 09 December 14
API 8 CFR SOUTH CHINA COAL SWAPS FELL 1.8% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 1.84 (-2.91%) month over month and US$ 0.95 (-1.52%) we ...
Monday, 08 December 14
GOVERMENT TO WITHDRAW CNC STATUS OVER SUSPECTED FLAWS - THE JAKARTA POST
The Energy and Mineral Resources Ministry’s directorate general for mineral and coal plans to review the clean and clear (CnC) status held by ...
Monday, 08 December 14
FOB NEWCASTLE COAL SWAPS SLIP W-O-W AND M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.10 on 5 December after losing US$ 0.55 (-1.04%) month over ...
Sunday, 07 December 14
SUPRAMAX S8 ROUTE SLIGHTLY INCREASED WEEK ON WEEK
COALspot.com: The BDI continued its fall as cape index fell heavily week on week.
The BDI lost around14.83 pct within last five working day an ...
Saturday, 06 December 14
TANKER FLOATING STORAGE PLAYS COULD COME INTO PLAY IF VLCC RATES STAY AT CURRENT LEVEL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Contango: A phenomenon in commodities futures price curves where the delivery price of a futures contract is greater than the current price. With t ...
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- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- White Energy Company Limited
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Planning Commission, India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
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