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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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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Planning Commission, India
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- The University of Queensland
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
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