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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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Monday, 17 November 14
SKULD ISSUES URGENT NOTICE ON BANKRUPTCY OF OW BUNKER A/S
Further to the Association’s advices of 7 November 2014, more information has come to light with respect to the potential impact and scale of ...
Monday, 17 November 14
INDONESIAN COAL PRICE REFERENCE CONTINUES FREE FALL; SLUMPS TO 69-MONTH LOW
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in November. HBA for t ...
Monday, 17 November 14
API 5 FOB NEWCASTLE COAL SWAP FOR Q1' 15 DELIVERY CLOSED AT $ 52.75
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery has decreased US$ 1.77 (-3.25%) month over month and US$ 0.02 (-0.04%) day ...
Monday, 17 November 14
SOUTH CHINA COAL SWAP SLIGHTLY INCREASED WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 1.73 (-2.67%) month over month and US$ 0.10 (-0.16%) da ...
Sunday, 16 November 14
THE BDI LOST 12.59% WEEK ON WEEK; THE BCI LOST 19.95%
COALspot.com: The BDI fell 12.59 percent to 1256 point week on week on Friday 14 November. All the segments were also most down this week. The cape ...
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- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- White Energy Company Limited
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
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