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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, 29 October 14
GOOD REASON WHY Q4 CAPESIZE OUTLOOK WAS SO BULLISH AT START OF THE YEAR - COMMODORE RESEARCH
COALspot.com: There was good reason why so many analysts' capesize outlook for Q4 was so very strong at the start of this year. Brazilian ...
Tuesday, 28 October 14
SGX'S FOB RICHARDS BAY COAL SWAP FOR DELIVERY Q1' 2015 CLOSED AT $ 68.07 ON 24 OCT
COALspot.com: API 4 FOB Richards Bay coal swap for Q4’ 2014 delivery decreased US$ 0.65 (-0.96%) month over month and increased US$ 1.79 (+2. ...
Tuesday, 28 October 14
SUB-BIT FOB INDONESIA COAL SWAP FOR Q1' 15 DELIVERY CLOSED 3.68% LOWER MONTH ON MONTH
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost month on month and gained day on day and week on week.
The swap has lost US ...
Monday, 27 October 14
GOVT PROMISES TO EASE LICENSING PROCEDURES IN MINING SECTOR - THE JAKARTA POST
The Energy and Mineral Resources Ministry’s directorate general for mineral and coal plans to simplify the complicated licensing procedures i ...
Monday, 27 October 14
FOB NEWCASTLE COAL SWAP FOR Q1' 15 DELIVERY CLOSED $ 0.10 LESSER THAN Q4' 14 CLOSING OF $ 53.27 PMT
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2014 delivery decreased US$ 1.43 (-2.61%) month over month and increased US$ 0.05 (+0.09% ...
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- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
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