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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, 23 December 14
SHIPOWNERS ARE FINALIZING MORE DEALS AS YEAR END COMES CLOSER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS WORLDWIDE
With the 2014 year just a few days before waving goodbye, shipowners are looking to close their pending deals in both the newbuilding and S&P m ...
Monday, 22 December 14
Q2'15 CFR SOUTH CHINA COAL SWAP CLOSED $ 0.30 LOWER THAN Q1'15 CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3.67 (-5.81%) month over month and US$ 0.35 (-0.58%) ...
Monday, 22 December 14
API 5 FOB NEWCASTLE COAL SWAPS ARE HEADING SOUTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.71 per MT (-3.24%) and closed at US$ 51.02 on 19 December month ...
Sunday, 21 December 14
PANAMAX COAL FREIGHT FROM INDONESIA TO INDIA FALLS FURTHER
COALspot.com: The BDI continued its fall as cape index lost heavily week on week.
The BDI was down 6.95 percent week over week and closed at 8 ...
Friday, 19 December 14
HOW WILL LOWER BUNKER PRICES AFFECT THE SUBSTANTIAL OVERCAPACITY IN DRY BULK MARKET? - BIMCO
As bunker fuel costs have come down from USD 600 per tonnes to USD 330 per tonnes in the past 6 months, much talk about increased ship speed have s ...
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- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Australian Coal Association
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- MS Steel International - UAE
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- The University of Queensland
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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