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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, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
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- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Planning Commission, India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
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