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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, 02 November 14
CAPE INDEX WAS UP 46.65% WEEK ON WEEK
COALspot.com: The BDI and Cape index continued the strong upward trend this week. The BDI was up 19.80 pct and Cape index was up by 46.65 per ...
Friday, 31 October 14
BUKIT ASAM'S NET PROFIT ROSE 27.42% FOR THE PERIOD JANUARY - SEPTEMBER 2014
COALspot.com: Publicly listed coal miner Bukit Asam reported solid profits in the first nine months of 2014 year.
Coal miner Bukit Asam manage ...
Friday, 31 October 14
U.S PRODUCED AROUND 19.3 MMST OF COAL IN A WEEK
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.3 million short tons (mmst) of coal in ...
Thursday, 30 October 14
COAL & GRAINS SUPPORT PANAMAX AND IRON ORE SUPPORTS CAPES
Handy
The Atlantic market has been flat this week. Rates are up about US$ 200 from last week on the TA´s, but the volumes are about the sam ...
Thursday, 30 October 14
DOES A LOU ARBITRATION AGREEMENT FOR THE UNDERLYING CARGO CLAIM COMPLETELY REPLACE THE BILL OF LADING ARBITRATION CLAUSE? - INCE &CO
KNOWLEDGE TO ELEVATE
In the context of cargo claims brought under four bills of lading, the Commercial Court has recently considered whether a ...
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- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- The University of Queensland
- CNBM International Corporation - China
- Australian Coal Association
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
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