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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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Showing 3426 to 3430 news of total 6871 |
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- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- White Energy Company Limited
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Planning Commission, India
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- London Commodity Brokers - England
- VISA Power Limited - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
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