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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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Monday, 22 September 14
CFR SOUTH CHINA COAL SWAPS LOST ON DAY, WEEK AND MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 3.10 (-4.50%) month over month and $ 0.95 PT MT week over ...
Monday, 22 September 14
INDONESIAN COAL SWAPS LOST WEEK ON WEEK AND MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for average October 2014 increased US$ 0.35 (+0.69%) day on day and lost US$ 0.30 (-0.58%) per mt week on week. ...
Sunday, 21 September 14
CAPE INDEX LOST 17% W-O-W ; BALTIC DRY PLUNGES 106 POINTS
COALspot.com: This week the freight market softened a bit compared to last week.
BDI fell 8.97% week on week and closed BDI at 1075 points on ...
Friday, 19 September 14
U.S. WEEKLY COAL PRODUCTION RELATIVELY FLAT AT +0.1% - EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
Friday, 19 September 14
PRICES FOR DRY BULK CARRIERS HAVEN'T CORRECTED ENOUGH, DESPITE LOWER THAN EXPECTED FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lot has been said and written about the looming dry bulk market recovery over the past few months. However, even if this hasn’t been materi ...
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- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- The University of Queensland
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
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