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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, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Economic Council, Georgia
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Planning Commission, India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- PTC India Limited - India
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
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