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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, 28 August 14
BANPU REPORTS HIGHER FIRST-HALF YEAR RESULTS FOR 2014
COALspot.com: Banpu Public Company Limited (BANPU) reports higher first half-year financial results for 2014 having its gross profit increasing 3 p ...
Wednesday, 27 August 14
FREIGHT MARKET: IS THE MARKET IN A RECOVERY MOOD? - GEORGE ILIOPOULOS
Is the market in a recovery mood?
August is typically a time when the shipping industry takes it easy… charter-ers book their requireme ...
Tuesday, 26 August 14
4TH ANNUAL ASIA NICKEL
4th Annual Asia Nickel
19-20 Nov 2014
Grand Hyatt Jakarta, Indonesia
Web Site
Asia’s Premier Nickel Conference
Regulation in ...
Tuesday, 26 August 14
DESPITE LOW DRY BULK RATES, BULKER PRICES ARE STILL HIGH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, August tends to be a month of slow activity in the sale and purchasing market and this year has been no exception. However, as shipb ...
Tuesday, 26 August 14
GOVT ON TRACK TO LIMIT COAL OUTPUT - THE JAKARTA POST
The government has announced that it will proceed with plans to cap the production of coal next year, a move aimed not only at protecting the envir ...
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- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Economic Council, Georgia
- The University of Queensland
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Planning Commission, India
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Australian Coal Association
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
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