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Friday, 19 April 13
FIRST QUARTER OF 2013 PROVEN A POSITIVE SURPRISE FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 Despite ominous predictions regarding the negative performance of the dry bulk market during the – traditionally weak anyway – first quarter of the year, it seems that the market dodged a bullet and escaped unscathed from the tonnage oversupply concerns. According to the latest weekly report from shipbroker Intermodal, the first quarter proved to be a positive one for most of the mid-to-small sizes, like Panamaxes, Supras and Handies. Time-charter equivalent earnings have brought some relief as earnings improved and moved to a positive territory beyond the point of covering their operating expenses.
According to Intermodal's S&P shipbroker Yannis Olziersky, "the strong demand for tonnage is driven mainly by the South American grain season, which pushed Panamax rates to an unexpectedly significant improvement. In the Pacific, Panamaxes also found support due to the increased demand for Indonesian exports such as iron ore, bauxite, nickel ore and coal. As a result the BPI during March averaged at around 1,147 points, with rates for a front haul voyage rising up to US$ 18,000/day and round voyages in the Far East edging up to US$ 10,000/day.
Smaller segments like Supras and Handies gained higher returns due to the grain season and their indices where raised by 30% and 20% respectively. On the other hand, weak demand persisted in the Cape size market, which failed to sustain gains. Disruptions in mineral cargo supply like iron ore and coal combined with the massive supply of vessels have driven the Cape size average T/C earnings to sink below US$ 5,000/day, which is the lowest level since Q3 2012", Olziersky said.
He added that "the upward trend in freight rates during Q1 2013 has also affected asset values. Second hand prices have been inched up in all segments (including Capers despite their downward trend in freight). Additionally, activity on the second hand market has also picked up significantly. A comparison between the dry bulk units sold back in Q1 2012 and those reported sold in Q1 2013, points towards an increase in activity by as much as 40pct.
The million dollar question is whether we have seen the bottom on asset values or not. Quite hard and risky to say, however certain things show that present values are attractive enough and, in the mind of some owners, prices have indeed touched the ground. Some facts which may support this perspective are:
Prices in all segments and especially for quality modern tonnage have shown a noticeable upward correction since February/January.
- Major players whom are traditional shipowners are buying vessels and appear to have appetite for more.
- A significant number of Buyers are inspecting quality tonnage that enters the market. In some occasions we hear more than 20 parties inspecting and chasing the same vessel!
- Orderbook to fleet ratio has been reduced significantly and today stands at 16% compared to last year which was at around 26%.
- Fleet removals are still going at a satisfactory pace. Upheld firm demo prices are assisting owners in making the difficult decision to scrap their older units", the shipbroker stated in the report.
He went on to conclude his argument by raising the questions of "Are we moving towards the right direction? and "Is this the right time for investments?. Two questions which time can only answer but by which time it may well be too late to get on board. Given the present facts and market trends though, we feel we may be witnessing a glimpse of hope and a glimmer at the end of the tunnel", he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping news
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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
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