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Wednesday, 07 January 15
2015 IS RIDDLED WITH CHALLENGES FOR THE SHIPPING SECTOR, MOST NOTABLY THE DRY BULK MARKET - HELLENIC SHIPPING NEWS
 As the new year has now set foot for real, many are still looking to detect what’s in store for the various shipping markets, with the first quarter of the year been the “compass” which will point towards this year’s direction in shipping. According to the latest weekly report from shipbroker Allied Shipbroking, “with the dry bulk market having started off the year on a fairly negative note there are some that see it as setting the tone of what we are set to see during the next 12 months. Though taking a look at the composite leading indicators for both China and India as well as the recent pick up in interest for iron ore we might be seeing an improvement in the works”.
Allied’s George Lazaridis, Head of Market Research & Asset Valuations, “there are however great fears to overcome this year before we can see better days. The recent economic crisis in Russia caused by the crippling sanctions brought about from the West and the drastic drop in oil prices (energy accounts for 25% of Russia’s gross domestic product – GDP) creates woes of global trade imbalance. At the same time worries have resurfaced regarding the stability and growth potential of the Euro-zone, as many voice concerns of a potential Greek exit from the Eurozone after the upcoming elections. Further to this, some of the largest economies, such as China, Japan and Germany, as well as several emerging markets have to tackle a slowdown in economic growth. This is all set to take place on the back drop of a fairly strong growth in the carrying capacity of the dry bulk fleet and it’s the dry bulk fleet that is most under threat now”.
According to the shipbroker, “most of the above mentioned will be fairly cleared out within the first two months of the year, while at the same time we should start to be able to get a better idea as to the direction the market will take. The hopes are for a stronger global GDP growth, with forecasts pointing to a 2.9% increase this year compared to 2.5% estimated to have been seen in 2014. This is mainly to be driven by the more bullish U.S. economy as well as an overall benefit that is expected to be seen if the current low oil prices persist. With regards to the latter the IMF has pointed to an increase of up to 0.7% in global economic activity which will be accounted by the lower energy prices. Further to this, the fact that most commodity prices have weakened considerably in the second half of 2014, means that overall costs have weakened, while these lower prices will allow for a continuation of the current low interest rate policies”.
Lazaridis added that “the current fog of uncertainty is likely to clear out after the Chinese New Year in mid-February. If the outcome is positive, we should see a spark of buying interest as prices will be ripe for the picking. If things turn for the worst then we might be set for a very difficult year, hopefully allowing for a clear out of some of the excesses that had been made in the past. In any case it looks as though 2015 will be giving truth to the phrase “the night is darkest just before the dawn”, or so we would like to hope”, he concluded.
Meanwhile, in the newbuilding market over these past couple of weeks, Allied said that “with 2014 having closed off at a fairly poor note and everyone worry-ing of even tougher market conditions to follow in the first half of 2015, many shipbuilders have already lowered their targets for the year, while we are likely to see a more aggressive marketing approach in an effort to steal some interest from the secondhand market. The way prices are holding right now this seems fairly difficult as it is hard to convince buyers to pay out such a premium the way the market is currently moving. At the same time, difficulties in terms of financing are likely to continue on in 2015, with particular difficulties to be seen as to the issuance of refund guarantees. As things stand now. S. Kore-an shipbuilders are better placed having put considerable focus on the tanker market as well as other niche markets which have been performing better in terms of earnings. In terms, of rumored deals, S. Korea’s Daewoo Shipbuilding has se-cured an order for 2 ice class LNG (172,000cbm) carriers for a price of US$ 317.0m each with delivery between 2017 and 2019″.
Finally, in the market for secondhand vessels, “further price drops have been noted in the Dry Bulk sector despite the limited activity which has taken place. Buyers have preferred to stay in the sidelines waiting for things to soften further, while many hope to see prices reach closer to the levels seen in early 2013. Interms of reported deals the Handysize “LEYDEN” (28k, 1995, Japan) was picked up for a price of US$ 5.1m. Things have been more bullish in the tanker sector, were the very promising performance in the freight market has rekindled interest by many buyers especially for the larger crude carriers. It is noteworthy to mention the fleet purchase by Genmar of 14 VLCC resales at a total enbloc price US$ 1.4bn”, Allied concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News Worldwide
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Wednesday, 28 January 15
CAPES CONTINUED THEIR UPWARD MOVEMENT LAST WEEK - INTERMODAL
COALspot.com: The Dry Bulk market displayed a mirror performance of that of the week prior, with the Capesize market correcting further upwards and ...
Tuesday, 27 January 15
Q1 FOB INDONESIA COAL SWAP CLOSED AT $ 47.87 FOR WEEK ENDING JAN. 23
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 gain week over week and declined month on month.
The Q1 swap has decline US$ 0.9 ...
Tuesday, 27 January 15
Q2 FOB NEWCASTLE COAL SWAP UP 4.5% W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery declined US$ 0.28 per MT (-0.54%) month over month and increased US$ 1.23 ( ...
Monday, 26 January 15
OVERSUPPLY, AMPLE STOCKPILES, AND LACKLUSTER UNDERLYING STEEL DEMAND KEPT COKING COAL PRICES LOW IN 2014
COALspot.com: Coking coal prices (FOB & CFR) fell 15% and 18% respectively during the year, amidst persistent oversupply, ample inventory and s ...
Monday, 26 January 15
FOB RICHARDS BAY Q2 COAL SWAP CLOSED LOWER THAN Q1 CLOSING
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and day on day.
The Q1 swap has fell ...
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- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Parliament of New Zealand
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- White Energy Company Limited
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
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