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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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- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Deloitte Consulting - India
- GMR Energy Limited - India
- Parliament of New Zealand
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
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