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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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Tuesday, 30 December 14
U.S WEEKLY COAL PRODUCTION ALMOST FLAT AT -0.2%
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.8 million short tons (mmst) of coal ...
Monday, 29 December 14
CHINESE COAL IMPORTS: REGULATORY RISKS? - CLARKSONS
In recent years, Chinese seaborne coal imports have surged, registering average growth of 67% p.a. between 2009 and 2013 to total 265mt. However, t ...
Monday, 29 December 14
BULK MARKET ENDS YEAR ON SOUR NOTE, SHIPBROKER SEES 'BUMPY ROAD AHEAD' - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2014 was supposed to be the year that the dry bulk market would stage a comeback and a sustainable one for that matter. However, while for the most ...
Monday, 29 December 14
Q1'15 CFR SOUTH CHINA COAL SWAP CLOSED AT $59.42
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3.51 (-5.58%) month over month and US$ 0.08 (-0.13%) ...
Monday, 29 December 14
SGX'S FOB NEWCASTLE COAL SWAPS IMPROVED W-O-W, LOST M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.44 per MT (-2.73%) month over month and gained US$ 0.36 (+0.71%) ...
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- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Australian Coal Association
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
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