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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, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- VISA Power Limited - India
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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