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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, 07 January 15
FUEL EFFICIENT SHIPS MAKE LESS SENSE IN LOWER BUNKER PRICE MARKET, BUT FUEL COSTS ARE BOUND TO RISE AGAIN
The shipping industry entered 2015 on mixed emotions, as a relatively buoyant tanker market is met by a rather lackluster dry bulk market. Still, a ...
Tuesday, 06 January 15
SHIPPING MUST ADOPT CAN-DO ATTITUDE IN 2015 - MOORE STEPHENS
Shipping needs to adopt a can-do attitude in order to successfully meet the challenges which are likely to come its way in 2015.
Shipping part ...
Tuesday, 06 January 15
Q4' 15 FOB INDONESIA COAL SWAP CLOSED 1.81% HIGHER COMPARED TO Q1' 15 CLOSING
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 0.74 (-1.51%) m ...
Tuesday, 06 January 15
FOB RICHARDS BAY COAL SWAPS LOST W-O-W AND M-O-M, SGX DATA SHOWS
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 3.52 (-5. ...
Monday, 05 January 15
CFR SOUTH CHINA COAL SWAPS GAINED WEEK OVER WEEK, SGX DATA SHOWS
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 2.50 (-4.02%) month over month and gained US$ 0.20 ( ...
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- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- MS Steel International - UAE
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Planning Commission, India
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
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