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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, 21 March 13
HANDY : RBCT ROUNDS FIXED AT $ 9000 + 300K BB - FEARNRESEARCH
Handy
The Atlantic market remains firm with cargoes seen to support healthy rates as per last week. The USG-Feast was at USD 25k and Black Sea-Feas ...
Wednesday, 20 March 13
NTPC TO IMPORT SEVEN MILLION TONS COAL FOR FOUR MONTHS
COALspot.com : NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company has awarded&n ...
Tuesday, 19 March 13
CHINA GAS PRICE REFORMS AND APAC GAS PRICING - FITCH STREET VIEW
Fitch Ratings says pricing reform in the Chinese gas sector is unlikely to materially impact gas distributors' margins, and low gas prices in the U ...
Tuesday, 19 March 13
NEWCASTLE COAL EXPORTS FALL BY 4.27 PERCENT ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,365,561 MT of thermal and coking coal for week ended 0700 hours 18 March 2013, Newcast ...
Tuesday, 19 March 13
SHIP PRICES COULD BE CLOSING IN TO REACH THEIR BOTTOM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
One of the latest developments in shipping asset prices has been the reluctance from shipyards to further reduce their price expectations to higher ...
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- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- The University of Queensland
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
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