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