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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, 26 November 14
OVERSUPPLY OF TONNAGE PUSHED PANAMAX SEGMENT DOWN FOR ANOTHER WEEK
COALspot.com: The Dry Bulk market managed to reverse its course from the week prior and with the sole exception of the Panamax segment, we witnesse ...
Wednesday, 26 November 14
SHIPPING MARKET INSIGHT - EVA TZIMA
The tanker market has been enjoying some good returns lately. Ok, that may be a big understatement, but with all the ups and downs of the past year ...
Tuesday, 25 November 14
FISCAL BREAKEVEN OIL PRICES SHOW SOVEREIGN VULNERABILITY - FITCH
COALspot.com: The vulnerability of the sovereign credit profiles of net oil exporters, as shown by their fiscal breakeven oil prices, suggests that ...
Tuesday, 25 November 14
UK: TRIBUNAL RULES ON SPEED AND PERFORMANCE CLAIMS UNDER TWO CONSECUTIVE TIME CHARTERPARTIES - REED SMITH
KNOWLEDGE TO ELEVATE
“Owners not to be responsible if the vessel under the currency of this charter party stays at port or anchorage or ...
Tuesday, 25 November 14
FOB RICHARDS BAY COAL SWAP FOR Q4' 15 DELIVERY CLOSED AT US$ 68.20
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 gained month on month, week on week and day over day.
The Q1 swap has gain ...
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- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- PTC India Limited - India
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
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