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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, 16 December 14
THIS PRICE IS A STEAL - EVA TZIMA
COALspot.com: Despite concerns that the slowdown of the Chinese economy would affect imports of iron ore, it seems that this has not been the case ...
Tuesday, 16 December 14
FOB RICHARDS BAY COAL SWAP FOR Q2' 15 DELIVERY CLOSED AT US$ 65.60 PMT
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month.
The Q1 swap has lost US$ 0.18 (-0.27%) month on month ...
Tuesday, 16 December 14
SUB-BIT FOB INDONESIA COAL SWAP CONTINUES ITS FALL
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week over week and day on day.
The Q1 swap has lost US$ 1.7 ...
Monday, 15 December 14
WILL TANKERS BENEFIT FROM REEMERGENCE OF FLOATING STORAGE PLAYS? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The tanker market has been seeing high freight rates for some time now, riding on the back of low oil prices, which are boosting demand from develo ...
Monday, 15 December 14
INDONESIAN COAL PRICE REFERENCE CRASHES THROUGH $65
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in December. HBA for t ...
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- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
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