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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, 04 June 13
NEWCASTLE PORT SHIPPED 2.56 MILLION TONS OF COAL IN A WEEK
COALspot.com - Newcastle port in Australia has loaded 2,563,596 tons of coal for week ended 0700 hours 3 June 2013, Newcastle Port Corp. said ...
Tuesday, 04 June 13
WOOD MACKENZIE SAYS THE CHINA'S THERMAL COAL DEMAND WILL REACH NEARLY 7BTPA BY 2030
COALspot.com - The Illusion of Peak Coal' says that despite efforts to limit coal consumption and seek alternative fuel options, China's strong ap ...
Saturday, 01 June 13
COAL PRICES STRUGGLE TO FIRM UP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have gained 0.18 percent week on week and 0.03 percent ...
Saturday, 01 June 13
THE FREIGHT MARKET FOR S7 AND S8 SECTORS ARE EXPECTED TO BE SOFT - VISTAAR
COALspot.com – The freights are remains weak week ended 31 May 2013, as BDI fell 2.05 pct and closed at 809 points on 31 May 2013.
The Cape ...
Friday, 31 May 13
US PRODUCED 18.5 MILLION SHORT TONS OF COAL W/E 25 MAY 2013
COALspot.com – United states the world’s second largest coal producer produced totalled approximately 18.50 million short tons (mmst) of ...
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- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- White Energy Company Limited
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- The University of Queensland
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
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