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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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- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Parliament of New Zealand
- Australian Coal Association
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- VISA Power Limited - India
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
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