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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
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Monday, 02 March 15
FOB NEWCASTLE COAL SWAP ROSE 6.89% MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.35 per MT (+6.89%) month over month and US$ 0.40 (0.78%) week on ...
Sunday, 01 March 15
BDI INDEX SLIGHTLY UP CAUSED AN INCREASE IN THE PANAMAX, SUPARAMAX AND HANDY SIZE INDICES
COALspot.com: The freight market saw some gains this week and BDI was up 5.26 pct closed at 540 points. However the Cape index failed to follow BDI ...
Friday, 27 February 15
WEEKLY US COAL PRODUCTION DOWN AN ESTIMATED 14.0% FROM LAST WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 16.5 million short tons (mmst) of coal ...
Thursday, 26 February 15
DRY BULK MARKET COULD REBOUND FROM HISTORICAL LOWS IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market could exit from its historical lows in the coming weeks, as Chinese buyers reenter the market after the holiday celebrations. T ...
Thursday, 26 February 15
COAL POLICY RISK: HIGHER ROYALTIES FOR IUP HOLDERS - BAHANA SECURITIES | JAKARTA POST
The Energy and Mineral Resources Ministry plans to raise coal royalties charged to mining operation permit (IUP) holders by the end of the first qu ...
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Showing 3171 to 3175 news of total 6871 |
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- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
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