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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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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Planning Commission, India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- VISA Power Limited - India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- The University of Queensland
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
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