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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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Tuesday, 16 September 14
INDONESIAN GOVERNMENT DECLARED HBA SUFFERED ANOTHER SETBACK IN SEPTEMBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in September. HBA for ...
Tuesday, 16 September 14
INDONESIAN COAL OUTPUT WON'T EXCEED 421M TONS: GOVT - JP
The government is optimistic that it will meet its coal production target for this year, which caps nationwide production at a flat number compared ...
Monday, 15 September 14
CHINA'S COAL PROPOSALS LEAVE SOME HOPE FOR EXPORTERS - DAILY NEWS
When the best thing you can say about new policies is that they aren’t as bad as they could have been, then you know your industry is in deep ...
Monday, 15 September 14
SUB-BIT FOB INDONESIA COAL SWAP, JANUARY 2015 DELIVERY GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: Indonesian coal swaps for average October 2014 increased US$ 0.40 (+0.78%) day on day and US$ 0.55 (+1.08%) per mt week on week. The ...
Monday, 15 September 14
CFR SOUTH CHINA COAL SWAP GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 2.30 (-3.36%) month over month, but increased day on day a ...
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- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Bhatia International Limited - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
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