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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, 03 May 13
SHIP OWNERS ARE INVESTING HEAVILY IN DRY BULK CARRIER NEWBUILDINGS ONCE MORE: IS THERE ANY RATIONALE? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market remains heavily oversupplied and just as the orderbook of newbuildings had began to shrink, it seems that sh ...
Wednesday, 01 May 13
NEWCASTLE PORT SHIPPED 23.14 PER CENT MORE COAL WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,997,729 tons of thermal and coking coal for week ended 0700 hours 29 April 2013, Newca ...
Tuesday, 30 April 13
KATINGAN RIA THERMAL COAL TO START PRODUCTION FROM EARLY 2014
COALspot.com - Realm Resources Ltd. (ASX: RRP) has announced the completion of the Feasibility Study for its 51% owned Katingan Ria thermal co ...
Monday, 29 April 13
FIRST TRADES OF SGX API 8 CFR SOUTH CHINA COAL SWAP
COALspot.com - The SGX API 8 CFR South China Coal Swap went live for clearing on SGX-DC today with a total volume of 25,000 metric tonnes (25 lots). ...
Sunday, 28 April 13
SUB BIT INDONESIA COAL & CFR SOUTH CHINA COAL SWAPS STAY POSITIVE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average May 2013 delivery has gained 0.34 percent and CFR South China coal shipment gai ...
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- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- The University of Queensland
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Planning Commission, India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- White Energy Company Limited
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- MS Steel International - UAE
- Makarim & Taira - Indonesia
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- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
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