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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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Sunday, 23 November 14
ITALY'S STEAM COAL IMPORTS TO DROP BY 11% IN 2014 - ASSOCARBONI
COALspot.com: Italy’s steam coal imports expected to drop to 16 million tons in 2014 (-11% compared to 2013); coking coal imports to plunge t ...
Saturday, 22 November 14
THE FALL IN BUNKER PRICES REDUCE FUEL COSTS SIGNIFICANTLY - BIMCO, PETER SAND
For a ship that burns 24 tonnes of fuel per day while steaming, fuel costs are reduced by as much as USD 1 million a year if current price level st ...
Saturday, 22 November 14
DRY BULKERS NEWBUILDING DELIVERIES REACHED 11.8 MILLION DWT DURING THIRD QUARTER, NET FLEET GROWTH FOR 2014 TO REACH 5% - HELLENIC SHIPPING NEWS
The dry bulk market has rebounded since its less than impressive performance since the start of the year, but overall, third quarter figures could ...
Friday, 21 November 14
BUMI ENTERS INTO CONDITIONAL SALE & PURCHASE AGREEMENT TO SELL FBS STAKE
COALspot.com: PT Bumi Resources Tbk, one of the Indonesia's largest coal producers confirms that it has executed a Conditional Sale and Purchas ...
Friday, 21 November 14
U.S LAST WEEK'S COAL PRODUCTION STAYS FLAT W-O-W
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
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- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Planning Commission, India
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
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