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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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Thursday, 30 May 13
HANDY: RBCT ROUND WAS AROUND USD 9K + 300 BB - FEARNRESEARCH
Handy
THE Atlantic market remained flat. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 12k. The Pacific market remained quiet with no ...
Wednesday, 29 May 13
SHIP OWNERS KEEP ON SPENDING ON NEWBUILDINGS AS PRICES ARE DEEMED TOO LOW TO RESIST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It's been yet another week on increased newbuilding ordering activity with Hellenic ship owners appearing rathe active, on the back of attractive f ...
Tuesday, 28 May 13
NEWCASTLE PORT SHIPPED 9.76 PERCENT MORE COAL W/E 27 MAY 2013
COALspot.com - Newcastle port in Australia has loaded 2,420,366 tons of coal for week ended 0700 hours 27 May 2013, Newcastle Port Corp. said ...
Sunday, 26 May 13
AMPLE SUPPLY, LOW DEMAND KEEP COAL PRICES UNDER PRESSURE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have lost 0.07 percent and API 8 CFR South China Coal shipment los ...
Friday, 24 May 13
ENGAGEMENT WITH POTENTIAL STRATEGIC AND OFF TAKE PARTNERS ACCELERATING - REALM RESOURCES
COALspot.com - Following the recent completion of the Feasibility Study, the Realm Resources Ltd. (ASX: RRP) has focused on securing strategic ...
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- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Economic Council, Georgia
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
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