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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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Monday, 25 March 13
BUNKER FUELS ARE ABOUT TO GET CLEANER, BUT AT WHAT COST? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The cost of bunkers is nowadays the driving force behind most ship owners' major decisions, with regulations bound to change in many parts of the w ...
Sunday, 24 March 13
THE SUB-BIT INDONESIA'S COAL SWAPS FOR Q2 DELIVERY PRICE LOST 7.47 PERCENT PMT M-O-M
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 3.39 percent and CFR South China coal shipment 2.65 ...
Sunday, 24 March 13
FREIGHT MARKETS CONTINUED TO FIRM - VISTAAR
COALspot.com - This freight market continued to remain firm in all segments except for cape index which softened slightly.
The BDI was up by 4.60 ...
Sunday, 24 March 13
DRY BULK MARKET PROSPECTS OFFER ROOM FOR RESTRAINED OPTIMISM SAYS SHIP OWNER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its announcement regarding its annual performance, ship owner Frontline offered some useful insight on the future prospects of both the dry bulk ...
Saturday, 23 March 13
WORLD COAL TRADE FIRST PASSES 1 BILLION TONS IN 2012 - VEREIN DER KOHLENIMPORTEURE E.V
Press Release: Hard coal imports to Germany on the previous year's level in spite of regenerative energies. Imports for power plants at an all-time ...
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- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Planning Commission, India
- The University of Queensland
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- MS Steel International - UAE
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
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