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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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Tuesday, 11 November 14
PORT OF NEWCASTLE'S OCTOBER COAL SHIPMENTS SLIPPED 7.40% M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1,115.7 mil ...
Monday, 10 November 14
Q4' 15 FOB INDONESIA COAL SWAP CLOSED LOWER THAN Q1' 15 CLOSING PRICE OF US$ 49.58 ON LAST FRIDAY
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week on week and day on day.
The Q1 swap has lost just US$ ...
Monday, 10 November 14
SGX'S API 4 FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 65.44 ON 7 NOV, LOST 4.08% M-O-M
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has decreased US$ 2.78 (-4.08%) month over month and US$ 1.41 (-2.11%) w ...
Monday, 10 November 14
MOZAMBIQUE SIGNED CONTRACT WITH ETA STAR OF UAE FOR OPEN CAST COAL MINE IN TETE - AIM
- ETA Star to build slurry pipeline over the 600 kilometers to Beira in Mozambique to transport coal.
- The viability studies show the presence o ...
Monday, 10 November 14
YEAR 2015 CFR SOUTH CHINA COAL SWAP SHOWS A WEAK TREND THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 3.74 (-5.63%) month over month and US$ 2.19 (+3.37%) we ...
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- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
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