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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, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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Showing 31 to 35 news of total 6871 |
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- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Heidelberg Cement - Germany
- Australian Coal Association
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- The University of Queensland
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Thai Mozambique Logistica
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