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.
|
|
Thursday, 05 March 15
INDIA WILL BE THE LARGEST DRIVER OF GLOBAL SEABORNE COKING COAL DEMAND GROWTH IN 2015 - WOOD MACKENZIE
Global demand growth will remain weak because of China’s negative demand growth.
COALspot.com: At Coaltrans India, Wood Mackenzie says I ...
Thursday, 05 March 15
BUKIT ASAM BOOKED US$ 1 BILLION REVENUE IN 2014
COALspot.com: Indonesian publicly listed and state owned coal miner PT. Bukit Asam, has announced that, the revenue of the company for the period J ...
Wednesday, 04 March 15
AN AGENDA FOR CHANGE - FITCH INDONESIA CONFERENCE
Fitch Indonesia Conference - 5 March 2015
Fitch Ratings will host its annual Indonesia conference on 5 March 2015.
The theme of this year ...
Wednesday, 04 March 15
KEEP CALM AND INVEST IN DRY - THEODORE NTALAKOS
Keep Calm and Carry On was originally a motivational poster, intended to raise the morale of the British public, produced by the British government ...
Tuesday, 03 March 15
INDONESIAN COAL EXPORT VOLUME TO DECLINE 50% BY 2019
COALspot.com: The Indonesian government is planning to reduce coal export volume by 50% within the next five years while keeping its coal productio ...
|
|
|
Showing 3161 to 3165 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- The University of Queensland
- Planning Commission, India
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- White Energy Company Limited
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
|
| |
| |
|
