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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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Friday, 26 December 14
SHIPS FACE LOWER SULPHUR FUEL REQUIREMENTS IN EMISSION CONTROL AREAS FROM 1 JANUARY 2015 - IMO
Ships trading in designated emission control areas will have to use on board fuel oil with a sulphur content of no more than 0.10% from 1 January 2 ...
Wednesday, 24 December 14
CAPE DEMAND WAS STILL EXTREMELY SOFT THIS PAST WEEK ACROSS BOTH BASINS - INTERMODAL
COALspot.com: The performance of the Dry Bulk market, which found itself in desperate search of support for yet another week, has left very little ...
Wednesday, 24 December 14
MARKET INSIGHT - JOHN N. COTZIAS, INTERMODAL SNP BROKER
The year is coming to an end, and we should be able to assess if this was a good year, a bad year, or even a lousy one? The answer clearly de ...
Tuesday, 23 December 14
Q1'15 FOB INDONESIA COAL SWAP GAINED 48 CENTS IN ONE WEEK
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and gained week over week and day on day.
The Q1 swap has lo ...
Tuesday, 23 December 14
Q4'15 FOB RICHARDS BAY COAL SWAPS FALL $ 3.85 IN A MONTH
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month.
The Q1 swap has lost US$ 2.13 (-3.17%) month on month ...
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- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Planning Commission, India
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
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