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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, 08 October 14
IS THERE ANY BRIGHT SIDE ON THE DRY BULK SEGMENT? - YANNIS OLZIERSKY
In the movie “Life Of Brian”, a character on a nearby cross was singing the famous “Always look on the bright side of life” ...
Tuesday, 07 October 14
TAIPOWER TO IMPORT 525K MT OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com: Taiwan Power Company intends to procure 525,000 metric tons of low ash and extra low sulfur sub-bituminous coal for Taipower thermal ...
Tuesday, 07 October 14
SUB-BIT FOB INDONESIA COAL SWAP SHOWS A FLAT TO WEAK TREND THIS PAST WEEK
COALspot.com: Indonesian coal swaps November 2014 delivery flat week on week and gained US$ 0.10 (-0.20%) per mt day on day. The swap also lost US$ ...
Tuesday, 07 October 14
THE RIO TINTO CONFIRMS THAT NO DISCUSSIONS ARE TAKING PLACE WITH GLENCORE
COALspot.com: The board of Rio Tinto notes the recent press speculation regarding a possible combination of Rio Tinto and Glencore.The Rio Tinto bo ...
Tuesday, 07 October 14
API 8 CFR SOUTH CHINA COAL SWAP HEADED SOUTH
COALspot.com: API 8 CFR South China Coal swap for delivery in November 2014 decreased US$ 1.10 (-1.64%) month over month and US$ 0.25 (-0.38%) ...
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- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- VISA Power Limited - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Economic Council, Georgia
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
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