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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, 24 May 13
US'S COAL PRODUCTION INCREASED WEEK ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.90 million short tons (mmst) of ...
Friday, 24 May 13
OPG POWER VENTURES OF INDIA LOOKING FOR 210,000 MT OF 4,200 GAR INDONESIAN THERMAL COAL
COALspot.com - OPG Power Ventures Plc (OPG) is an AIM listed (London Stock Exchange) and fast growing developer and operator of power plants in Indi ...
Thursday, 23 May 13
HANDY : THE ATLANTIC MARKET REMAINS UNCHANGED - FEARNRESEARCH
Handy
The Atlantic market remains unchanged. USG-Feast rates were around USD 19k. Little change from last week in the Pacific, fewer stems and tonn ...
Thursday, 23 May 13
COLOMBIA SHIPPED 11.74 MILLION TONS OF THERMAL COAL IN Q1
COALspot.om - Colombia produced about 18,388,972.94 mt of coal for the first quarter of 2013.
Q1' 2013 coal production was around 21.42 p ...
Wednesday, 22 May 13
COKAL SIGNS JV WITH MDM, FOR BARITO RIVER BARGING
COALspot.com - Cokal Limited (ASX: CKA) has announced that it has entered into a 50:50 Joint Venture (JV) with Meratus Advance Maritime (MDM) one of ...
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- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Videocon Industries ltd - India
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
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