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.
|
|
Saturday, 03 January 15
U.S WEEKLY COAL PRODUCTION FELL 11.2% TO 17.6 MMST WEEK OVER WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.6 million short tons (mmst) of coal ...
Thursday, 01 January 15
FOB RICHARDS BAY COAL SWAPS CLOSED AT $63.47 PMT ON 26 DEC, SGX DATA SHOWS
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 3.37 (-4. ...
Wednesday, 31 December 14
COASTAL ENERGEN (C&O) COMMENCES 1ST UNIT OF 1200 MW POWER PLANT IN INDIA
COALspot.com: Coastal Energen, part of the Coal & Oil Group, announced last week the commissioning and commencement of power production at the ...
Wednesday, 31 December 14
SUB-BIT INDONESIA COAL Q2' 15 DELIVERY SWAP CLOSED 1.03% LOWER COMPARED TO AVERAGE Q1' 15 DELIVERY PRICE - SGX
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and gained week over week.
The Q1 swap has lost US$ 1.35 (-2 ...
Tuesday, 30 December 14
SHIP PRICES KEEP ON FALLING, SALES COME EARLY FOR SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship prices keep on falling on the back of low freight rates. According to the latest report from shipbroker Allied Shipbroking, January sales seem ...
|
|
|
Showing 3281 to 3285 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- The University of Queensland
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Australian Coal Association
- White Energy Company Limited
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Deloitte Consulting - India
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
|
| |
| |
|
