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, 12 January 15
SHIPPING - CHALLENGES AND RESOLUTIONS - EVA TZIMA
Last year has without a doubt been another challenging one both for both our industry and our country. As Greece is currently dominated by election ...
Sunday, 11 January 15
BDI DECLINED 8% ON WEEK; BCI LOST 31%
COALspot.com: The BDI continued its decline in the first week of this year or lost 8 pct week over week. The BDI was closed at 709 points whi ...
Friday, 09 January 15
U.S. EASTERN SPOT STEAM COAL PRICES FELL IN 2014; ROSE IN WEST - EIA
U.S. Eastern spot steam coal prices declined in 2014 compared to 2013 levels because of a decline in steam coal exports.
According to U.S. Ene ...
Friday, 09 January 15
WEEKLY U.S. COAL PRODUCTION UP AN ESTIMATED 2.2% Y-O-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.6 million short tons (mmst) of coal ...
Thursday, 08 January 15
INDONESIA PRESSES ON WITH HIGHER COAL ROYALTY FEE TO BOOST STATE REVENUE - JG
The Indonesian government is pressing on with its plan to raise the royalty charged to coal miners in order to increase state revenue, but the move ...
|
|
|
Showing 3266 to 3270 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Planning Commission, India
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
|
| |
| |
|
