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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, 15 October 14
NEWCASTLE SHIPPED 13.96 MILLION TONS OF COAL IN SEPTEMBER; UP 5.72%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1,227.7 wor ...
Tuesday, 14 October 14
KING COAL UNDER ATTACK? - EVA TZIMA
With the last quarter of the year being well underway and with no strong signs that the Dry Bulk market could be ready for a big positive reversal, ...
Tuesday, 14 October 14
THE NEW CHINESE TRANSPORTATION TAX LAW: WHAT DOES IT MEAN FOR GREEK SHIPPING? - DELOITTE
China has recently promulgated a new law which imposes tax on profits from freights of inbound routes. The objective of the new tax law titled &ldq ...
Monday, 13 October 14
CHINESE COAL IMPORT TARIFFS YET ANOTHER BLOW TO AUSTRALIAN COAL EXPORTS - TIM BUCKLEY
COALspot.com: China’s unexpected move to reintroduce thermal coal import tariffs of 6% will have a materially negative impact on the viabilit ...
Monday, 13 October 14
NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 54.92, SGX DATA SHOWS
COALspot.com: API 5 FOB Newcastle Coal swap for delivery Q4' 2014 decreased US$ 0.80 (-1.46%) month over month and US$ 0.52 (-0.95%) week over ...
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- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- White Energy Company Limited
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
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