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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 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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Showing 41 to 45 news of total 6871 |
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- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Minerals Council of Australia
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
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