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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, 24 August 14
SEA FREIGHT MARKETS STARTING TO LOOK POSITIVE; CAPES DRIVE FREIGHTS HIGHER
COALspot.com: The freight market has strengthen further this week with BDI up 7.19 pct week on week. The BDI was closed at 1,088 points while the B ...
Friday, 22 August 14
INDIAN IRON ORE ROYALTY RISE NOT LIKELY TO HURT STEELMAKERS' MARGINS - FITCH
Fitch Ratings does not expect an increase in India's iron ore royalty rates to have a major impact on the profitability of steel producers in t ...
Friday, 22 August 14
ARBITRATION CLAUSE IN LOU HELD TO REPLACE CHARTERPARTY ARBITRATION CLAUSE
KNOWLEDGE TO ELEVATE
The Claimants had claims for cargo damage against the vessel Owners arising under four bills of lading. The vessel was th ...
Friday, 22 August 14
ICAP ENERGY LAUNCHES GLOBAL COKING COAL DERIVATIVES TRADING
First contract completed and cleared on CME
COALspot.com: ICAP Energy, the energy business of ICAP plc, announces today that it has successful ...
Friday, 22 August 14
U.S WEEKLY COAL PRODUCTION UP 2.4% WEEK OVER WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.60 million short tons (mmst) of coal in ...
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- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Planning Commission, India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Bhatia International Limited - India
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