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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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Friday, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
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- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Australian Coal Association
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Economic Council, Georgia
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Posco Energy - South Korea
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- VISA Power Limited - India
- Latin American Coal - Colombia
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
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