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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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Wednesday, 03 December 14
PROGRESSING SMELTER PROJECTS IN INDONESIA
Press Release: Indonesia’s ban on ‘raw mineral export’ that was designed to encouraging downstream investment in mineral processi ...
Wednesday, 03 December 14
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The dry bulk market seems unable to turn sentiment round and is still looking for direction. The BCI's 887-point free fall last week had an obv ...
Wednesday, 03 December 14
CAPESIZE DRY BULK CARRIERS ENTER 2015 WITH MIXED FORTUNES, WITH A POSITIVE AND A NEGATIVE SCENARIO BOTH EMERGING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The future of the Capesize dry bulk market appears to be engulfed from mixed “feelings” among analysts and market participants, despite ...
Tuesday, 02 December 14
KEY PLAYERS SHED NEW PERSPECTIVES ON COAL MARKETS
Press Release: Singapore’s ONLY and longest established Coal Trade event. Whilst Coal prices remain challenging, there is widespread consensu ...
Tuesday, 02 December 14
KOMIPO INVITES BIDS FOR 585,000 METRIC TONS OF COAL FOR Q1'15
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids for the supply of 585,000 Metric Tons of coal. According to invitation, 5700 ...
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- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Planning Commission, India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Economic Council, Georgia
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- PTC India Limited - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
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