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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, 19 November 14
SHIPPING MARKET INSIGHT - BY KATERINA RESTIS
The current Ebola outbreak in West Africa has been declared as a worldwide health emergency by the World Health Organization and has had a great im ...
Tuesday, 18 November 14
VALEMAX DEAL TO DETERMINE DRY BULK MARKET'S FATE - DREWRY MARITIME RESEARCH
Vale’s accord to sell and lease four Valemax vessels to COSCO might have negative repercussions on dry bulk freight rates. Vale has committed ...
Tuesday, 18 November 14
SUB-BIT FOB INDONESIA COAL SWAP DELIVERY Q2' 2015 CLOSED AT $ 49.55; DOWN 4.10% M-O-M
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, gained week on week and day on day.
The Q1 swap has lost US ...
Tuesday, 18 November 14
FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT $ 66.31; UP 1.33% W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has gained US$ 0.27 (+0.41%) month over month and US$ 0.87 (+1.33%) week ...
Tuesday, 18 November 14
CHEAP OIL PRICES COULD RESHAPE GLOBAL OIL EXPORTING MAP - HELLENIC SHIPPING
Tanker owners have enjoyed a rather healthy 2014, but as the year draws to a close, the fall of oil prices is bound to reshape traditional, as well ...
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- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- The University of Queensland
- Minerals Council of Australia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
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