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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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Sunday, 28 April 13
PANAMAX FREIGHT COULD BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - This BDI closed slightly lower at 871 points (down by 1.91 pct) mainly due to drop in the Panamax index by almost 10 pct.
Th ...
Saturday, 27 April 13
HANDY : SLIDING ; PANAMAX : POSITIVE ; CAPESIZE : STILL ON ITS KNEES - FEARNRESEARCH
Handy
The Atlantic markets started sliding with no fresh cargoes seen in the market. The USG-Feast was at USD 18k and Black sea-Feast was at USD 11 ...
Saturday, 27 April 13
2ND CHINA INTERNATIONAL SHALE GAS SUMMIT
Press Release - 2nd China International Shale Gas Summit, 10-13 September 2013 | Chengdu, China
*The largest annual event for the shale gas indus ...
Friday, 26 April 13
LIMA SUMMIT IN JULY TO HIGHLIGHT LATIN AMERICAN MINING POTENTIAL
COALspot.com - Latin American mining industry officials and their private sector counterparts will be gathering in Lima, Peru on July 1-2 for the La ...
Wednesday, 24 April 13
FUTURE US POWER MARKET SHARES OF COAL, NATURAL GAS GENERATORS DEPEND ON RELATIVE FUEL PRICES - EIA
COALspot.com - In recent years, in US, natural gas competed more effectively with coal as a fuel for electricity generation as the cost of operating ...
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- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Planning Commission, India
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Australian Coal Association
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- The University of Queensland
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Minerals Council of Australia
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
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