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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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Saturday, 27 September 14
MORE COAL MINERS AGREE TO AMEND CONTRACTS - THE JAKARTA POST
The Energy and Mineral Resources Ministry is in a rush to beat a deadline for the conclusion of numerous memorandums of understanding (MoUs) with t ...
Friday, 26 September 14
INDIA SUPREME COURT RULING TO HIT STEEL, UTILITY EARNINGS, SAYS FITCH
COALspot.com: The 24 September Supreme Court of India (SCI) decision to cancel almost every coal block allocation since 1993 will have a negative f ...
Friday, 26 September 14
U.S WEEKLY COAL PRODUCTION FELL 1.8% WEEK OVER WEEK, SAYS EIA
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.80 million short tons (mmst) of c ...
Friday, 26 September 14
ORACLE SIGNS EPC FRAMEWORK AGREEMENT WITH SEPCO FOR COAL MINE AND POWER PLANT IN PAKISTAN
COALspot.com: Oracle Coalfields PLC, the UK developer of a lignite coal mine and power plant in the south-eastern Sindh Province, Pakistan, has ann ...
Friday, 26 September 14
NEWCASTLMAXES ARE THE MOST SOUGHT AFTER VESSELS BY SHIP OWNERS TODAY SAYS VESSELS VALUE
KNOWLEDGE TO ELEVATE
Determining a ship’s fair value can be a very tricky business, especially when you’re the one paying. As such ...
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- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- White Energy Company Limited
- Singapore Mercantile Exchange
- The University of Queensland
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
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