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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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Wednesday, 10 April 13
US COAL CONSUMPTION TO INCREASE FROM 889 MMST IN 2012 TO 948 MMST IN 2013 AND 957 MMST IN 2014 - EIA
Based on estimates for the first quarter of 2013, American coal production has continued to decline.
Total production is down 9.9 million short t ...
Wednesday, 10 April 13
DRY BULK FREIGHT RATES SEEN MOSTLY STABLE IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS WORLDWIDE
In its latest report, BIMCO forecast that for the coming six weeks, Capesize time charter average rates will remain subdued around $4,500-8,500 per ...
Monday, 08 April 13
SUB-BIT INDONESIA COAL SWAPS: UPWARD TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 2.71 percent and CFR South China coal shipment&nbs ...
Sunday, 07 April 13
CHARTER RATES ARE UNDER PRESSURE DUE TO DECLINING DEMAND - VISTAAR
COALspot.com - The freight market continued to fall further with all the indices down.
The BDI was down by 5.38 pct closing at 861 points and the ...
Friday, 05 April 13
SGX API 8 CFR SOUTH CHINA COAL SWAPS TO GO LIVE
COALspot.com - The Exchange has announced that the SGX API 8 CFR South China Coal Swap will go live for clearing on SGX-DC starting from 29 Ap ...
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- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Parliament of New Zealand
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
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