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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, 22 October 14
CAPESIZE MARKET REMAINED UNDER PRESSURE
COALspot.com: The Dry Bulk market closed on the red for yet another week although following Friday sentiment has started to improve on the back of ...
Tuesday, 21 October 14
INDIA'S DIESEL DEREGULATION POSITIVE FOR OIL COMPANIES - FITCH
The Indian government's 18 October decision to deregulate diesel prices will have a positive effect on the national oil marketing companies tha ...
Tuesday, 21 October 14
LOW DEMAND PUTTING COAL SWAPS UNDER PRESSURE
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost on day, week and month.
The swap has lost US$ 1.57 (-3.04%) month on month ...
Monday, 20 October 14
CHINA'S ENVIRONMENTAL POLICIES DO NOT SPELL THE END FOR COAL - WOOD MACKENZIE
China's environmental policies do not spell the end for coal Analysis across energy commodities show coal still accounting for 64% of power mix ...
Monday, 20 October 14
CFR SOUTH CHINA COAL SWAPS FAILED TO PERFORM POSITIVE
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 3.04 (-4.57%) month over month and US$ 1.75 (-2.68%) week o ...
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- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- White Energy Company Limited
- Indogreen Group - Indonesia
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