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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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Friday, 10 October 14
U.S. PRODUCED 83.2 MMST OF COAL IN SEPTEMBER, SAYS EIA
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.6 million short tons (mmst) of coal in ...
Thursday, 09 October 14
CAPESIZE MARKET HAS CONTINUED TO SHOW WEAKNESS - FEARNLEYS
Handy
We mentioned last week that after several weeks of rate increase for the Supras, the bigger Panamaxes started to snap up better paying Supr ...
Thursday, 09 October 14
SHIPPING REMAINS CHALLENGED AS GLOBAL GROWTH DISAPPOINTS - BIMCO
The global shipping industry finds no grace from much stronger economic activity going forward, as the global recovery remains fragile and uneven. ...
Wednesday, 08 October 14
CAPES RATE FOR THE W. AUSTRALIA TO CHINA VOYAGE MOVED TO BELOW $8/MT - INTERMODAL
The Dry Bulk market remained under pressure last week, with rates for Capes remaining on the red while those for Panamaxes managed to outperform th ...
Wednesday, 08 October 14
OIL COULD FALL TO USD80 BEFORE SHALE SUPPLY RESPONSE - FITCH
COALspot.com: Brent oil could fall as low as USD80 a barrel before triggering a self-correcting supply response with shale-oil drillers cutting inv ...
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- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- CNBM International Corporation - China
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
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