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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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Thursday, 20 November 14
MOST MAJOR ASIAN ECONOMIES TO BENEFIT FROM LOWER OIL - FITCH
COALspot.com: The 25% drop in the price of oil since July is likely to lift economic growth prospects, improve terms of trade, and have a pot ...
Thursday, 20 November 14
HANDY: INDO ROUNDS ARE BEING FIXED IN REGION OF US$ 10K - FEARNLEYS
Handy
In the Atlantic we have experienced firmer rates this week much lead by the grain activity out of USG. Vsls open in the USG can achieve in ...
Thursday, 20 November 14
DEMAND FOR DRY BULK CARRIERS INCREASES ON THE BACK OF HEIGHTENED FREIGHT RATE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners are looking to take advantage of favorable market conditions through the acquisition of more dry bulk carriers. According to shipbroker ...
Wednesday, 19 November 14
INDONESIA FUEL-PRICE RISE A CLEAR, POSITIVE REFORM SIGNAL - FITCH
COALspot.com: Indonesia's hike of more than 30% in administered fuel prices, announced on 17 November, provides a clear, positive signal of the ...
Wednesday, 19 November 14
CAPES WERE UNDER PRESSURE; LOST 20% WITHIN A WEEK
COALspot.com: " The negative environment in which the week prior ended, marked this past week as well, which closed off on Friday noting the f ...
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- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- The University of Queensland
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Minerals Council of Australia
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
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