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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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- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
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