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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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Sunday, 14 September 14
FREIGHT RATES RALLY AS DEMAND INCREASED
COALspot.com: The Baltic Dry Index (BDI) is a number (in US$) issued daily by the London-based Baltic Exchange up 2.25 percent week on week. BDI cl ...
Friday, 12 September 14
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 673.3 MMST, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
Thursday, 11 September 14
THE PANAMAX MARKET IS TAKING A BREATHER - FEARNLEYS
Handy
We have experienced more activity in both hemispheres this week, said Fearnleys in this week's weekly report.
"We see rates c ...
Wednesday, 10 September 14
ARE GREEK BANKS ON THE VERGE TO START LENDING AGAIN? - JOHN N. COTZIAS
It is well known that Greek Banks had suffered severely after the economic crisis of 2008. From that period onwards, major changes have occur ...
Tuesday, 09 September 14
WEAK M&A DESPITE ABUNDANT DISTRESSED INDONESIA COAL ASSETS - FITCH RATINGS
COALspot.com: Fitch Ratings says that a meaningful level of merger and acquisition (M&A) activity leading to a consolidation of the coal sector ...
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- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- The University of Queensland
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- White Energy Company Limited
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
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