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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, 18 April 13
HANDY: STABLE ; PANAMAX: BUSY WEEK - FEARNRESEARCH
Handy
The Atlantic markets remain stable in this week. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 12k. The Pacific market is bit f ...
Thursday, 18 April 13
FEATURE: PREDICTING THE FUTURE - AND THE PAST - BIMCO
It’s not predicting the future that is problematical, it’s the realisation that you have to relive the past again and again when you fai ...
Wednesday, 17 April 13
INDONESIA SHIPPED 80 MILLION TONS OF COAL IN FIRST QUARTER - COAL DIRECTOR
COALspot.com - Indonesia has exported around 80 million tons of coal including power plant coal in first three months of this year.
Speaking on t ...
Tuesday, 16 April 13
AUSTRALIAN NEWCASTLE PORT'S COAL EXPORTS JUMPED 20.87 PER CENT ON WEEK TO 3.07 MMT
COALspot.com - Newcastle port in Australia has loaded 3,077,431 tons of thermal and coking coal for week ended 0700 hours 15 April 2013, Newca ...
Monday, 15 April 13
SUB - BIT INDONESIA COAL SWAP SHOWS POSITIVE TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 2.70 percent and CFR South China coal shipment&nbs ...
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- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- PTC India Limited - India
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Marubeni Corporation - India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
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