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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, 07 September 14
SHIPMANAGERS SUPERVISION CONTRACT FOR NEWBUILDS - BIMCO
Shipmanagers are frequently called upon by their owner clients to supervise newbuilding projects on their behalf. The scope of the manager’s ...
Saturday, 06 September 14
SLOW COAL EXPORT REGISTRATION RAISES CONCERNS - THE JAKARTA POST
Several coal mining companies have yet to receive the go-ahead from the Energy and Mineral Resources Ministry to obtain exporting licenses, leading ...
Saturday, 06 September 14
DRY BULK MARKET'S PROSPECTS ARE IMPROVING, DESPITE WEAK SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been rebounding during the past month, with the Baltic Dry Index (BDI) ended the week on a high note, reaching 1,155 points ...
Saturday, 06 September 14
INDONESIA WANTS TO REGULATE COAL DEALS - THE TELEGRAPH INDIA
Indonesia has raised concerns about suspected coal deals struck between overseas buyers and its unregistered domestic miners, the telegraph India r ...
Friday, 05 September 14
U.S. PRODUCED 19.2 MMST OF COAL LAST WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
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- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
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- Ministry of Mines - Canada
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Agrawal Coal Company - India
- The University of Queensland
- Economic Council, Georgia
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Siam City Cement - Thailand
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