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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, 05 January 15
FIVE ENERGY SURPRISES FOR 2015: THE POSSIBLE AND THE IMPROBABLE - KURT COBB
The coming year is likely to be as full of surprises in the field of energy as 2014 was. We just don't know which surprises! I am not predictin ...
Monday, 05 January 15
THE SHIPPING MARKET IN 2014 AND LOOKING FORWARD - BIMCO
2014 started with plenty of optimism for a considerably better global economy and an improved shipping market. Things turned out somewhat different ...
Monday, 05 January 15
API 5 FOB NEWCASTLE COAL SWAP FOR Q1'15 DELIVERY CLOSED US$ 0.45 HIGHER COMPARED TO Q2'15 CLOSING
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 0.60 per MT (-1.15%) month over month and gained US$ 0.02 (+0.04%) ...
Sunday, 04 January 15
BALTIC DRY INDEX CONTINUES ITS DECLINE IN 2015
Wish you all a very Happy New Year 2015. The last report was dated 19th Dec 2014 and due to Christmas and new year holidays no reports were publish ...
Saturday, 03 January 15
U.S WEEKLY COAL PRODUCTION FELL 11.2% TO 17.6 MMST WEEK OVER WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.6 million short tons (mmst) of coal ...
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- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- CNBM International Corporation - China
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- London Commodity Brokers - England
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
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