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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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Saturday, 06 December 14
MUNDRA PORT MAKES HISTORY BY HANDLING THE LARGEST BULK CARRIER TO CALL ON WEST COAST OF INDIA
COALspot.com: Adani Ports & SEZ Ltd, India’s largest port developer and part of Adani Group, yesterday said its Mundra Port successf ...
Friday, 05 December 14
CHINESE SPECIAL STEEL MAKERS' RISK PROFILES MORE RESILIENT - FITCH
Fitch Ratings says the risk profiles of Chinese makers of special steel, especially high-end products, are more like those of manufacturers and mor ...
Friday, 05 December 14
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED AROUND 905 MMST - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19 million short tons (mmst) of coal i ...
Thursday, 04 December 14
CAPE MARKET IS DEVELOPING FROM BAD TO WORSE
Handy
The Atlantic market has been pretty stable and balanced this week, Fearnleys AS says in its latest weekly report.
The broker furt ...
Thursday, 04 December 14
DRY BULK MARKET; ANOTHER DISAPPOINTING WEEK
COALspot.com: For those who have been hoping to see alignment of freight direction across the Dry Bulk market, this must have been another disappoi ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- The Treasury - Australian Government
- White Energy Company Limited
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
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