We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Monday, 29 December 14
BULK MARKET ENDS YEAR ON SOUR NOTE, SHIPBROKER SEES 'BUMPY ROAD AHEAD' - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 2014 was supposed to be the year that the dry bulk market would stage a comeback and a sustainable one for that matter. However, while for the most past, the balance between supply and demand was restored, the rally of the market during the August-September one was a short-lived one. According to the latest report from shipbroker Intermodal, “the negative sentiment that has been prevailing in the dry bulk market lately leaves most owners with a rather bitter taste following the free fall of the past weeks”.
According to SnP Broker, Mr. John N. Cotzias, “enquiry levels remain low and we observe with great concern the everyday softening that takes place in the Capesize segment, with the BCI touching new historical lows daily, since its introduction in March 1999. In the past four weeks we have seen the index dropping from above 3,000 points to well below 500 points, while the average T/C for the segment has moved from $23,000/day to below $4,900/day. What a drop! If one considers that most Capes run their OPEX in excess of $10k/day and the level of CAPEX for those Capes acquired at 100mil USD then it goes without saying that some owners and their banks are facing hard times ahead. The drop in second-hand prices is also evident, with prices approaching the levels we witnessed back in December 2012 and January 2013, while every new deal is marking a lower last done, which is also the benchmark for the negotiation of the next sale candidate”.
Cotzias, also President of the Hellenic Shipbrokers Association, went on to raise the question of what are the fundamentals at the moment? According to the broker, “bunker prices are at a 5 year low, the Japanese Yen reached a seven year low against the US Dollar, the Euro to the Dollar may be soon approaching 1.15 according to some, the Russian economy presently looks Rubbled… sorry meant troubled, iron ore prices are phenomenally low, China’s softening appetite in November has been weighing down on Capes and mineral export bans from Indonesia hurt further the Pacific trade. At the same time the scrap price offered in China is at $220-$230/ton and price levels have also been dropping sharply in the Indian Subcontinent. Most notably, the overall scrap activity for 2014 is 30% less than that of last year, while newbuilding ordering in 2014 is almost 50% down compared to 2013 levels”.
He added that “a very simplistic approach says that during a bad market when freight rates suffer, the normal is that ship prices correct. Definitely some owners lose their sleep during this period, however others are seeing this as a golden opportunity to buy low, support their investment until rates improve and once their asset gains in value, lock in the profits. Bankers always say that a business proposal should be viable with all figures “adding-up” positively… however these proposals never take into account the value of asset play. A business deal in which you are buying low, is usually one taking place in a freight environment which doesn’t make sense for a banker to invest in, but is usually the one that will most probably offer the opportunity to asset play”, Cotzias concluded.
Meanwhile, Intermodal noted in its report that “the Dry Bulk market kept losing ground throughout last week, while the consecutive daily record lows of the BCI kept feeding the negative sentiment”. In the SnP market, “activity appears to be holding well despite a big part of the market already being in a holiday mood, while this past week more en-bloc tanker deals have taken place, resuming the recent trend. On the tanker side, we had the en-bloc sale of the “STI HERITAGE” (73,956dwt-blt 08, Japan) and the “STI HARMONY” (73,919dwt-blt 07, Japan), which were picked up by Singaporean owner, BW, for a price of US$ 31.9.0m and US$ 29.4.0m respectively. On the dry bulker side, we had the resale of a TSUNEISHI ZHOUSHAN Kamsarmax (81,600dwt-blt 15, China), which went to Greek owner Vita Management for a price of $ 30.7m”, Intermodal said.
Finally, in the newbuilding market “sluggish activity continues to describe the newbuilding market, with non-conventional vessels continuing to gather a big chunk of the ordering interest nowadays. Despite the fact that prices remained stable this past week, we expect the downward movement to resume sooner rather than later as less and less owners appear keen to place an order, while at the same time upcoming back to back holidays across the globe will further weigh on activity. It comes as no surprise that tankers continue to gather more interest compared to dry bulkers and reports of Scorpio’s order last week are also confirming this trend. The Monaco based owner has agreed to modify an order for Capesize vessels previously inked with an S. Korean yard, to a four firm plus two optional LR2 units, clearly showing the shift of confidence from one sector to the other that has taken place during the past months on the back of the two freight markets moving to completely different directions. In terms of recently reported deals, British Petroleum, has placed an order, for six firm LNG carriers (174,000dwt) at DSME, in S. Korea, for a price of $ 206.0m each and delivery set in 2018-2019″, the shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 09 March 15
CHINA'S IMPORTS - NEVER MORE IMPORTANT TO SHIPPING? - CLARKSONS
Over the last 15 years China has led maritime forecasters a right old dance. In 2002, rumours that Chinese iron ore imports were about to take off ...
Sunday, 08 March 15
FREIGHT RATES FROM INDONESIA TO INDIA IS TRENDING UP
COALspot.com: The freight market continued to see gains this week and all the indices were rose except for Cape index. The BDI was increased 4.62 p ...
Friday, 06 March 15
BALTIC DRY INDEX: IS THIS POWERFUL INDICATOR SIGNALING A GLOBAL RECESSION? - STREET AUTHORITY
Although memories of the Great Recession linger, a case can be made that better days lie ahead.
That’s because central banks around the ...
Friday, 06 March 15
U.S. WEEKLY COAL PRODUCTION ROSE 3.5% WEEK ON WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.1 million short tons (mmst) of coal ...
Thursday, 05 March 15
PANAMAX : THE ATLANTIC ROUND IS NOW PAYING AROUND US$ 5K PER DAY
COALspot.com: Handy - The activity in the handy/supra segment is back. “ We see more fresh cargo in the market for 2nd half March dates ...
|
|
|
Showing 3156 to 3160 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- The University of Queensland
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
|
| |
| |
|
