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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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Monday, 26 January 15
API 8 CFR SOUTH CHINA COAL SWAP CONTINUE TO SLIDE M-O-M; ROSE W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined US$ 0.79 (-1.33%) per MT month over month and gained US$ 2.10&nb ...
Sunday, 25 January 15
PANAMAX FREIGHT RATES STILL FALLING
COALspot.com: The BDI was slightly down this week to 720 points. The BDI lost 2.83 pct week on week.
The cape index continued its upward trend ...
Friday, 23 January 15
U.S. WEEKLY COAL PRODUCTION FOR WEEK ENDING JAN. 17 UP 2.5%
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.4 million short tons (mmst) of coal ...
Thursday, 22 January 15
PANAMAX: A SOFTER TONE AND OVERALL A SLUGGISH MARKET - FEARNLEYS
Handy
The handy and supra market has experienced yet another week with slow activity and softening rates in both hemispheres, broker Fearnleys AS ...
Thursday, 22 January 15
BUMI RESOURCES POSTS NET INCOME OF $13.3 MILLION 9M-2014
COALspot.com: Bumi Resources, Indonesia’s largest coal miner, reported today that, the company has recorded a net income of $13.3 million for ...
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- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- VISA Power Limited - India
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Australian Coal Association
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Planning Commission, India
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
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