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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, 27 October 14
CFR SOUTH CHINA COAL SWAPS PERFORMED POSITIVE THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 1.68 (-2.55%) month over month and increased US$ 0.87 (+1.3 ...
Sunday, 26 October 14
CAPE'S STRONG PERFORMANCE PUSHES BDI INDEX UPWARDS
COALspot.com: The BDI was up by 26.27 pct and closed at 1192 points week and week. The Cape size performance has pushed up BDI and Cape size index ...
Friday, 24 October 14
WEEKLY U.S COAL PRODUCTION DOWN 2.7% FOR THE WEEK ENDING OCTOBER 18
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.7 million short tons (mmst) of coal in ...
Thursday, 23 October 14
THE BEARS, HOWEVER, STILL CRY; FOR HOW LONG WILL IT LAST? - FEARNLEYS
Handy
"We experience a typical oversupply of ships in the Atlantic which causing rates to slide. In the USG it is just enough cargoes to kee ...
Wednesday, 22 October 14
MARKET INSIGHT - THEODORE NTALAKOS, INTERMODAL
ECO designs - revisited
The ECO vessels are already here but the oil and bunker prices are plummeting to their cheapest level since 2010. Is this ...
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- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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