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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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Friday, 31 July 15
COAL PRODUCTION IN THE U.S. UP 3.6% FOR THE WEEK ENDING JULY 25
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.8 million shor ...
Friday, 31 July 15
CHINA'S NEW OIL IMPORT RULES HAVE MINIMAL IMPACT ON STATUS QUO - FITCH
Fitch Ratings says that China's looser criteria for crude oil import rights are a positive but modest step towards encouraging private-sector p ...
Thursday, 30 July 15
EFFECTS OF THE CHINESE STOCK MARKET CRISIS - INTERMODAL
All evidence is currently signaling that the Chinese stock market will be the newest hurdle for the global economy. With the world's second lar ...
Wednesday, 29 July 15
Q1'16 FOB INDONESIA COAL SWAP CLOSED HIGHER THAN Q3'15
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and gains week over week, this past week.
The Q3 swap was decl ...
Wednesday, 29 July 15
Q4' 15 FOB RICHARDS BAY COAL SWAPS DECLINE 4.41% TO $56.52 PMT
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was down US$ ...
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- Kepco SPC Power Corporation, Philippines
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- Neyveli Lignite Corporation Ltd, - India
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- Toyota Tsusho Corporation, Japan
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- Power Finance Corporation Ltd., India
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- Sojitz Corporation - Japan
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- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
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- PNOC Exploration Corporation - Philippines
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- Minerals Council of Australia
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- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
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- Sical Logistics Limited - India
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- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
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- VISA Power Limited - India
- The Treasury - Australian Government
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- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
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- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Xindia Steels Limited - India
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- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
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- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- White Energy Company Limited
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
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- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
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- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- The University of Queensland
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- The State Trading Corporation of India Ltd
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- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
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- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
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