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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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Thursday, 25 September 14
LACK OF COAL BUSINESS PUSHING DOWN PANAMAX EARNINGS IN PACIFIC
Handy
In the Atlantic we see rates steady climbing upwards. More coal cargoes out of USG and USEC are helping the TA market which is up some USD ...
Wednesday, 24 September 14
ADARO AGREED TO REDUCE ITS CONCESSION AREA TO 31,379.8 HECTARES
COALspot.com: PT Adaro Energy Tbk (Adaro Energy) today announced that, PT Adaro Indonesia (AI), its wholly owned subsidiary, entered into a M ...
Wednesday, 24 September 14
CAPESIZE: ACTIVITY IN BOTH BASINS WAS UNIMPRESSIVE
COALspot.com: The end of the week prior seems to have marked the tone for the days that followed, with the Dry Bulk market giving up a significant ...
Tuesday, 23 September 14
MEDCO TO INCREASE ITS COAL PRODUCTION NEXT YEAR
COALspot.com: PT Medco Energi Internasional is looking to increase its coal production next year, supported by the launch of operations at its Duta ...
Monday, 22 September 14
COAL SECTOR CHAOS - GENESIS TO REVELATION - DIPESH DIPU
COALspot.com: “Let there be light”, intends the government of India but the fuel side of the story paints a blackout. The recent Suprem ...
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- The University of Queensland
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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