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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, 03 August 15
NEWCASTLE COAL SWAPS DECLINE FURTHER THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 1.92 per MT (-4.22%) month over month to US$ 43.58 per mt. The swap ...
Monday, 03 August 15
CFR SOUTH CHINA COAL SWAPS SLIDE THIS WEEK
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined US$ 1.64 (3.14%) per MT month over month.
A commodity swap ...
Sunday, 02 August 15
CAPESIZE RATES PUSH BDI UPWARD
COALspot.com: The freight market was buoyant this week as BDI rose 4.14 pct to 1131 points. The cape index was also increased 16.50 pct 2209 points ...
Saturday, 01 August 15
DRY BULK MARKET KEEPS ITS MOMENTUM, AS OUTLOOK IMPROVES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Although conditions remain more than challenging, especially from an economic point of view (aka China’s stock worries), the dry bulk market ...
Friday, 31 July 15
CAPE'S PAPER MARKET REMAINS FIRM - INTERMODAL
COALspot.com: The positive sentiment that the Dry Bulk market has been enjoying as of the previous month, was carried through last week as well, bu ...
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- ICICI Bank Limited - India
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- Australian Coal Association
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- Power Finance Corporation Ltd., India
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- Petron Corporation, Philippines
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- Attock Cement Pakistan Limited
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- Altura Mining Limited, Indonesia
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- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
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- Ministry of Finance - Indonesia
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- Miang Besar Coal Terminal - Indonesia
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- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
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- Kohat Cement Company Ltd. - Pakistan
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- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
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- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
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- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
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- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
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- Romanian Commodities Exchange
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- OPG Power Generation Pvt Ltd - India
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- Baramulti Group, Indonesia
- Planning Commission, India
- The Treasury - Australian Government
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- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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- Gujarat Electricity Regulatory Commission - India
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- Port Waratah Coal Services - Australia
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- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
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- Trasteel International SA, Italy
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- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
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- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
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- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
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- White Energy Company Limited
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- Lanco Infratech Ltd - India
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- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
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- Tata Chemicals Ltd - India
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- International Coal Ventures Pvt Ltd - India
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- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
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- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
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- Directorate General of MIneral and Coal - Indonesia
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- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
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- Vedanta Resources Plc - India
- McConnell Dowell - Australia
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- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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