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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, 21 May 13
NEWCASTLE PORT COAL SHIPMENTS SEEN FALLING WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,205,024 tons of thermal and coking coal for week ended 0700 hours 20 May 2013, Newcast ...
Sunday, 19 May 13
COAL PRICES ARE SLUMPING DUE TO WEAK DEMAND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have gained 0.03 percent and API 8 CFR South China Coal shipment g ...
Sunday, 19 May 13
FREIGHT RATES TO REMAIN UNSTABLE AND VOLATILE - CAPT. REDDY
COALspot.com – The freight remained weak this week with all the segments down.
The BDI, the Baltic Dry Index is a number issued daily by th ...
Friday, 17 May 13
US COAL PRODUCTION CLIMBED 3.35 PER CENT WEEK ON WEEK
COALspot.com - U.S. produced totaled approximately 18.50 million short tons (mmst) in a week (For the week ended May 11, 2013), EIA said in its late ...
Thursday, 16 May 13
PANAMAX: THE FORWARD CURVE IS FALLING GRADUALLY - FEARNRESEARCH
Handy
The Atlantic market remained quiet. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 11k. The Pacific market remained uncertain as ...
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- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- The University of Queensland
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- PTC India Limited - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
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