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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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Thursday, 26 February 15
DRY BULK MARKET LOOKING FOR POSITIVE MOMENTUM, BUT PROSPECTS REMAIN DIM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the Baltic Dry Index (BDI) inched a bit higher over the past couple of sessions and the Chinese are returning to the market after a week long hi ...
Wednesday, 25 February 15
PORT OF NEWCASTLE SHIPPED 13.16MT OF COAL IN JANUARY; DECLINED 16.70% FROM A MONTH AGO
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.15 billio ...
Wednesday, 25 February 15
BDI SLIPPING ONCE MORE TO FRESH HISTORICAL LOWS
COALspot.com: With the BDI slipping once more to fresh historical lows and the Chinese holidays underway, signs for a positive reversal in the Dry ...
Tuesday, 24 February 15
FOB INDONESIA COAL SWAP SET TO RALLY
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap increased US$ 3.30 (+7.30%) ...
Tuesday, 24 February 15
Q3' FOB RICHARDS BAY COAL SWAP CLOSED $59.80 W/E 20 FEB
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and decline week on week.
The Q2 swap has soar ...
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Showing 3176 to 3180 news of total 6871 |
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- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Australian Coal Association
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- MS Steel International - UAE
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
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