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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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Thursday, 04 September 14
PUNJAB STATE POWER CORPORATION LIMITED OF INDIA HAS DECIDED TO BUY IMPORTED COAL - HINDUSTAN TIMES
COALspot.com: The Punjab State Power Corporation Limited (PSPCL) has decided to buy imported coal to run its thermal plants, as reported by Hindust ...
Thursday, 04 September 14
INDONESIAN COAL MINERS MAY GET MORE TIME ON ROYALTIES - FITCH RATINGS
COALspot.com: Fitch Ratings says that coal miners in Indonesia are likely to get more time to repay the government the royalties that were set off ...
Thursday, 04 September 14
INDONESIAN COAL SWAPS SLIDE THIS PAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.90 (-1.68%) day on day and US$ 1.80 (-3.31%) per mt week on week. The ...
Thursday, 04 September 14
CAPESIZE : SENTIMENT REMAINS POSITIVE FOR Q3/Q4 - FEARNRESEARCH
Handy
The Atlantic market has experienced more activity this week. Rates for TA´s are up about 8% w-o-w, much lead by an increasing number ...
Wednesday, 03 September 14
KOREA MIDLAND POWER CO. LTD INVITES BIDS FOR 1 MMT OF BITUMINOUS & SUB-BITUMINOUS COAL FOR BORYEONG POWER PLANT
COALspot.com: KOMIPO again in the market for 1 million tons of 5700 NAR and 4600 NAR coal for Jan – March 2015. South Korean state-owned util ...
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- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Parliament of New Zealand
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Planning Commission, India
- The University of Queensland
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
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