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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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Thursday, 01 January 15
FOB RICHARDS BAY COAL SWAPS CLOSED AT $63.47 PMT ON 26 DEC, SGX DATA SHOWS
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 3.37 (-4. ...
Wednesday, 31 December 14
COASTAL ENERGEN (C&O) COMMENCES 1ST UNIT OF 1200 MW POWER PLANT IN INDIA
COALspot.com: Coastal Energen, part of the Coal & Oil Group, announced last week the commissioning and commencement of power production at the ...
Wednesday, 31 December 14
SUB-BIT INDONESIA COAL Q2' 15 DELIVERY SWAP CLOSED 1.03% LOWER COMPARED TO AVERAGE Q1' 15 DELIVERY PRICE - SGX
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and gained week over week.
The Q1 swap has lost US$ 1.35 (-2 ...
Tuesday, 30 December 14
SHIP PRICES KEEP ON FALLING, SALES COME EARLY FOR SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship prices keep on falling on the back of low freight rates. According to the latest report from shipbroker Allied Shipbroking, January sales seem ...
Tuesday, 30 December 14
INDIA INC TO BENEFIT AS IMPORTED COAL PRICES SET TO FALL - RAHUL PRITHIANI
The Hindu: India‘s coal import volumes are set to rise by over 30 per cent over the next two years to 214 million tonnes in 2015-16, as domes ...
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- Energy Development Corp, Philippines
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- White Energy Company Limited
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Australian Coal Association
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
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