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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, 19 January 15
FOB RICHARDS BAY COAL SWAP FOR Q4 DELIVERY CLOSED 4% LOWER THAN Q1 DELIVERY PRICE
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and week over week.
The Q1 swap has f ...
Sunday, 18 January 15
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO REMAIN WEAK NEXT WEEK
COALspot.com: The BDI was up 4.51 pct week on week on Friday 16, January 2015. The BDI closed at 741 points on this Friday after gaining arou ...
Friday, 16 January 15
U.S. WEEKLY COAL PRODUCTION UP 7.3% W-O-W
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
Thursday, 15 January 15
PANAMAX : MARKET CONTINUE ON LOW PACE - FEARNLEYS
Handy
On a general basis we can say that rates are softening in both hemispheres. Although for some specific trades we can see premiums being ach ...
Thursday, 15 January 15
LOW CASH COSTS, GOOD LIQUIDITY HELP ASIAN OIL COMPANIES IN PRICE ROUT - FITCH
Fitch Ratings says that rated oil and gas production companies in Asia can comfortably operate under low oil prices for some time given their gener ...
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- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
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