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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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Monday, 15 December 14
CFR SOUTH CHINA COAL SWAP LOST $3.37 M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3,37 (-5.33%) month over month and US$ 1.58 (-2.57%) ...
Monday, 15 December 14
Q1' 15 FOB NEWCASTLE COAL SWAP CLOSED AT $ 51.45 ON 12 DEC
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.45 per MT (-2.74%) closed at US$ 51.45 on 12 December month over ...
Sunday, 14 December 14
FREIGHT RATES ARE EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The Baltic Dry Index (BDI), a measure of commodity-shipping costs, fell 12.12 pct to 863 points week ending 12 December 2014.
Th ...
Friday, 12 December 14
LIMITED TRADING AND AN OVERSUPPLY OF TONNAGE PUSHED HANDY SIZE SHIPS TO DOWN IN USG
Handy
We have seen the TA spot market come down this week lead by limited trading and an oversupply of tonnage in the USG, Fearnleys said in its ...
Friday, 12 December 14
U.S WEEKLY COAL PRODUCTION UP 3.4% W/E DECEMBER 6
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.6 million short tons (mmst) of coal ...
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- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Parliament of New Zealand
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
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