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Wednesday, 05 August 15
DRY BULKER PRICES START TO FIRM UP AS MARKET SENTIMENT IMPROVES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Market pessimism in the dry bulk industry, a trend which had established itself over the course of the year, has started to fade away over the past couple of weeks. According to a recent report from shipbroker Allied Shipbroking, “in part, this has been due to things seemingly looking calmer on the geopolitical stage then they did several weeks back, yet this has played a relatively small and unimportant part in the grand scheme of the global dry bulk trade. Over the course of the last couple of weeks we have seen the freight market slowly finding its foothold, and gaining ground well above the lackluster levels it was receiving several weeks back”.
According to Mr. George Lazaridis, Head of Market Research & Asset Valuations with Allied, “this is not to say that there has been a complete reversal and that we are now finding ourselves in the midst of a bull market, yet it has been enough to inspire optimism amongst many in the market”. Mr Lazaridis noted that “during the first half of the year the intense rebalancing act of the fleet which has served as a purpose in keeping its growth rate in check and in line with the new “status quo” of global economic development has started to “bear fruit”. With the number of vessels available and trading in the market being held at a stead number, seasonal spikes in demand have emerged right in time to give a strong boost to freight rates that had been lingering for too long around or even below OPEX levels”.
Of course, “one might say that seasonality will fade and you will once again be left with a fleet which is much larger than required, yet in reality this seasonality has helped us buy some time as the growth in trade slowly creeps at its slower pace increasing demand to the extent that it be-comes in balance and at some point might even surpass tonnage supply once again (this all depending on if we can keep the fleet growth at a lower rate than growth in trade)”, Lazaridis noted.
He added that “all this having been mentioned before, what strikes of interest now is the way the sale and purchase market in the dry bulk segment has started to react to all of this. For over a month now we have seen prices hold at a level which they were unable to break below, partially due to the fact that there was also strong resistance in the newbuilding market and strong resistance from sellers themselves. With a significant amount of the downward pressure having been alleviate (as earnings are now at much healthier levels and many in the market are starting to hold the belief that we have passed the worst of the storm) the amount of buyer looking to buy at bargain levels has not only risen but has also started to get itchy fingers and become a bit more “trigger-happy” (as if they are in some sort of wild west movie)”.
According to Allied’s analysis, “this has started to become more so the case for some of the modern units especially in the Kamsarmax and Ultramax sectors, both of which are expected to feed of much better over the coming years from the increasing trade from India. In terms of reported transactions, we have yet to see this “eagerness” reflected in pricing. There has been however a stronger demand then what had been seen over previous months and buyers are now looking to be considerably more eager to compete for units that they inspect. This in turn, if supported by the market, should start to emerge in transactions that we will be seeing come to light towards the end of August to early September, however as is always the case and nevertheless if it hap-pens now or further down the line, buyers seeing the emergence of this trend will feel that they might have “missed the market” and depending on the number of buyers that feel the same, we would likely see another round of price hikes self-fed by new rounds of buying interest and over eagerness to compete. Let’s hope this time around some will a higher degree of self-refrain before prices have overshot once again”, Lazaridis concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 24 August 15
IS CHINA'S STEEL EXPORTS ENOUGH TO SUPPORT THE FREIGHT MARKET? - BIMCO
No, it’s not enough, you will need lower Chinese iron ore production too in order to keep growing imports of iron ore into China that will su ...
Sunday, 23 August 15
SHIPPING FREIGHT RATES FALL SHARPLY ON EXCESS SUPPLY AND LOW DEMAND
COALspot.com: The BDI continued to soften and was down 5.78 pct and falls back below 1000 points this week.
The cape Index lost 17.25 per cent ...
Friday, 21 August 15
U.S. YEAR-TO-DATE COAL PRODUCTION VOLUME FALLS 8.7% Y-O-Y
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.3 million shor ...
Friday, 21 August 15
GLOBALCOAL TO LAUNCH ONLINE TRADING OF PHYSICAL MET COAL ON 13 OCTOBER
On 13 October 2015, globalCOAL will launch an online platform for the physical procurement and trade of high quality hard coking coal delivered FOB ...
Thursday, 20 August 15
COAL PRICES FALL TO 12-YEAR LOWS AS CHINA, INDIA JOIN DEMAND SLOWDOWN - REUTERS
Coal futures have fallen to 12-year lows, hit by soaring production and a slowdown in global buying, including from India and China which until rec ...
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- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Bhatia International Limited - India
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Economic Council, Georgia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
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