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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, 29 March 13
SUB-BIT INDONESIA COAL SWAPS: UP 0.55 % WOW; CFR SOUTH CHINA COAL CONTRACT: UP 0.23 % WOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.55 percent and CFR South China coal shipment&nbs ...
Thursday, 28 March 13
SHIP OWNERS KEEN ON ACQUIRING SECOND HAND TONNAGE, AS WELL AS NEW BUILDINGS IN CONVENTIONAL SEGMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The recent rally of the Baltic Dry Index (BDI), coupled with renewed optimism, at least in some parts of the wet market, have prompted many ship own ...
Wednesday, 27 March 13
PTBA HAS CONCLUDED US$ 16.14 BILLION WORTH OF COAL SALES AND PURCHASE AGREEMENT WITH PLN
COALspot.com - PT. Bukit Asam, a 32 years old Indonesian state owned coal miner has signed a coal sales and purchase agreement with PT PLN, (a state ...
Wednesday, 27 March 13
SHIPPING CONFIDENCE REACHES HIGHEST LEVEL FOR TWO YEARS - MOORE STEPHENS
Overall confidence levels in the shipping industry recovered to their highest level for two years in the three months ended February 2013, according ...
Tuesday, 26 March 13
NEWCASTLE PORT SHIPPED 2.39 MMT OF COAL W/E 25 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2.396 million tons of thermal and coking coal for week ended 0700 hours 25 March 2013, N ...
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- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- PTC India Limited - India
- The University of Queensland
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
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