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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, 19 December 14
U.S WEEKLY COAL PRODUCTION REACHED APPROXIMATELY 19.8 MMST; UP 1.0% WOW
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.8 million short tons (mmst) of coal ...
Friday, 19 December 14
HANDY: SOFTER TONE; PANAMAX: QUIET WEEK; CAPESIZE; PAINFUL WEEK
Handy
A softer tone for rates and volumes for the Supras, perhaps less apparent in the Pacific the last week before the season holidays and good ...
Thursday, 18 December 14
INDONESIA TO REVISE UP COAL OUTPUT TARGET TO 460 MILLION TONS IN 2015
COALspot.com: Indonesian government has revised up its next year coal output forecast to 460 million tons from its previous forecast of 421 million ...
Wednesday, 17 December 14
CAPES RATES SLIPPED BELOW $5,600/DAY, FELL 84% YOY
COALspot.com: In the very rare occurrence when the BCI stands below the BDI, words to describe market sentiment are probably poor, said Intermodal ...
Wednesday, 17 December 14
MARKET INSIGHT - INTERMODAL SHANGHAI, SNP TEAM
As the end of the fourth quarter is approaching, we are all witness to the second hand market prices softening day by day. Any new deal surfacing t ...
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- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Australian Coal Association
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
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