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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, 14 January 15
DRY BULK MARKET NOTED ANOTHER WEEKLY DECLINE - INTERMODAL
COALspot.com: The Dry bulk market noted another weekly decline on Friday, with the performance of the Capesize market still weighing down on the re ...
Wednesday, 14 January 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
In Oil we trust! The Barrel price has declined by almost a third in comparison to the 2014 January and has being on the downhill since early last s ...
Wednesday, 14 January 15
COMMODITIES AREN'T PRIMED FOR A REBOUND DURING 2015: SHIPPING COULD BENEFIT FROM LOWER PRICES - ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In the recent past, higher commodity prices were driven by an increase in demand from developing countries, which spelled good news for ship owners ...
Wednesday, 14 January 15
SUB-BIT FOB INDONESIA COAL SWAP FOR Q1 DELIVERY CLOSED AT US$ 46.97 PMT
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 declined month on month and week over week.
The Q1 swap has fell US$ 1.53 (-3.15 ...
Wednesday, 14 January 15
Q4' 15 FOB NEWCASTLE COAL SWAP CLOSED 4.51% LOWER COMPARED TO Q1' 15 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.56 per MT (-3.0%) month over month and US$ 1.03 (-2.0%) week ove ...
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- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- The University of Queensland
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- PTC India Limited - India
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
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