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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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Thursday, 16 October 14
ARE WE GOING TO SHOOT OURSELVES IN THE FOOT ONCE AGAIN? - PANOS MAKRINOS
As the East part of our globe was coming back from its October holidays last week, everyone expected that the Dry Bulk market would follow suit and ...
Wednesday, 15 October 14
PANAMAX: ACTIVITY IN THE PACIFIC WAS UNIMPRESSIVE
The Dry Bulk market noted another weekly decline last week, while the BDI moved below 1,000 points taking down with it expectations that a post hol ...
Wednesday, 15 October 14
INDONESIAN COAL PRICE REFERENCE FELL TO FRESH MULTI-YEAR LOWS IN OCTOBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in October 2014.
...
Wednesday, 15 October 14
DRY BULK SHIPPING: RATE IMPROVEMENTS ARRIVED AS FORECAST, BUT UNCERTAINTY MOUNTS FOR 2015 DEMAND - BIMCO
BIMCO released its latest short term assessment of the dry bulk market, estimating that over the October-November period, the level of Capesize TC ...
Wednesday, 15 October 14
SHIPOWNER NOT LIABLE FOR CARGO DAMAGE RESULTING FROM POOR STOWAGE - CLYDE & CO
KNOWLEDGE TO ELEVATE
Russian metal trading company Yuzhny Zavod Metall Profil (YZMP), the holder of a CONGEN 1994 bill of lading, took delivery o ...
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- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- MS Steel International - UAE
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Australian Coal Association
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
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