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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, 09 May 13
KILLARA AUSTRALIA ACQUIRES 80% INTEREST IN BORNEO EMAS HITAM
COALspot.com - Killara Resources has announced that, the company has signed a binding MoU to acquire an 80% equity interest in PT. Borneo Emas Hitam ...
Thursday, 09 May 13
THE WORLD LARGEST POWER PLANT COAL EXPORTER SHIPPED 36 MILLION TONS OF COAL IN MARCH
COALspot.com: Indonesia, the world largest multi grade coal exporter has shipped 36.165* million tons of coal in March 2013.
Ac ...
Thursday, 09 May 13
DRY BULK SHIP OWNERS KEEP BUILDING NEW VESSELS ON THE BACK OF LOWER PRICES AND IMPROVED MARKET PROSPECTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the doom and gloom that the dry bulk market has experienced during the past couple of years and especially during 2012, ship owners have inc ...
Thursday, 09 May 13
HANDY : RBCT ROUNDS FIXED AT USD 8000 DOP ECI - FEARNRESEARCH
Handy
The atlantic market started to pick up with new orders. The USG-Feast was at USD 20k and Black sea-feast was at USD 12k. The pacific mkt rema ...
Wednesday, 08 May 13
PANAMAX VESSELS PROVE TO BE "STARS OF THE MONTH" FOR THE DRY BULK MARKET DURING APRIL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
They have taken a beating on various occasions during the past few years of the dry bulk market's crisis, but the fact remains, that despite the he ...
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- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- MS Steel International - UAE
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Australian Coal Association
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- The University of Queensland
- Parry Sugars Refinery, India
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