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