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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, 09 November 14
CAPE INDEX UP 3.06%; PANAMAX INDEX FELL 4.05%
COALspot.com: The BDI was almost at same levels compared to last week closing or just increased 0.77 pct from last week. The BDI was closed at 1437 ...
Friday, 07 November 14
U.S. PRODUCED 85.60 MILLION SHORT TONS OF COAL IN OCTOBER, UP 2.88% M-O-M
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.0 million short tons (mmst) of coal ...
Thursday, 06 November 14
THE ATLANTIC HAS REMAINED STRONG WITH A HEALTHY SUPPLY OF NEW CARGOES
Handy
This week has continued its slow trend in both hemispheres and even though rates are a bit up w-o-w it is not a clear sign for any improvem ...
Wednesday, 05 November 14
CAPESIZE SEGMENT ENJOYED FIRMING RATES ACROSS BOTH BASINS
Following a fantastic week in terms of rate performance for Capes, the Dry Bulk market managed to note another positive weekly closing, which stron ...
Wednesday, 05 November 14
SHIPPING MARKET INSIGHT - PANOS TSILINGIRIS
COALspot.com: The steep appreciation in dry bulker values between late 2012 and March 2014 resulted in unrealistically expensive ship values compar ...
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- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Planning Commission, India
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
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