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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, 09 September 14
PORT OF NEWCASTLE SHIPPED 13.207 MTN OF COAL IN AUGUST; TRADE VALUE AROUND $1.17 BILLION
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.17 billio ...
Monday, 08 September 14
SUB-BIT FOB INDONESIA COAL SWAP UNDERPERFORMED LAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.20 (-0.39%) day on day and US$ 1.60 (-3.04%) per mt week on week. The ...
Monday, 08 September 14
API 8 CFR SOUTH CHINA COAL SWAP FOR DELIVERY JAN'15 CLOSED AT US$ 66.30 PMT W/E 5 SEPTEMBER 2014; LOST 5.15% M-O-M
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 0.15 (-0.23%) day on day and US$ 2.05 (-3.04%) week on wee ...
Monday, 08 September 14
CHINESE IRON ORE IMPORT DEMAND VERY STRONG - COMMODORE
COALspot.com: 30 dry bulk vessels were chartered in the spot iron ore market last week to haul iron ore import cargoes to Chinese buyers.
Acco ...
Sunday, 07 September 14
FREIGHT MARKET CONTINUED TO BE FIRM IN SPITE OF CAPE'S THIS WEEK'S WEAK PERFORMANCE
COALspot.com: BDI up by 0.7 pct week on week and closed at 1155 points this week. The Baltic Dry Index is a composite of three sub-indexes that mea ...
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- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
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