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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, 21 January 15
PANAMAX MARKET MOVED SIDEWAYS OVERALL LAST WEEK - INTERMODAL
COALspot.com: The positive sentiment in which the week prior ended carried on through-out last week as well, the end of which marked the first posi ...
Wednesday, 21 January 15
SHIFT IN INTERNATIONAL COAL TRADE TO THE PACIFIC BASIN WILL CONTINUE - IMF
COALspot.com: The shift in international coal trade to the Pacific Basin will continue, IMF said in its latest Medium-Term Coal Market Report.
...
Wednesday, 21 January 15
MARKET INSIGHT - VASSILIS LOGOTHETIS, INTERMODAL
The World Bank has lowered its forecast for global growth in 2015 to 3% down from its previous level of 3.4% amid rising concerns over the economic ...
Wednesday, 21 January 15
THERMAL COAL PRICE OUTLOOK DEPENDENT ON INDIAN IMPORT DEMAND - MATTHEW BOYLE, CRU
COALspot.com: Supply and demand side developments in India will be an important determinant of future market dynamics and prices for thermal coal a ...
Wednesday, 21 January 15
PORT OF NEWCASTLE COAL EXPORTS JUMP 16.19% ON MONTH TO 15.80 MIL MT IN DECEMBER' 14
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.136 billi ...
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- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- CNBM International Corporation - China
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
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