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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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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Planning Commission, India
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
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