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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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Sunday, 17 March 13
A WEAK WEEK FOR SUB-BIT INDONESIA COAL SWAPS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 2.11 percent and CFR South China coal shipment ...
Sunday, 17 March 13
COAL FREIGHT RATES STEADY ON HIGHER DEMAND - CAPT. REDDY
COALspot.com - This freight market continued to remain firm in all segments.
The BDI was up by 5.81 pct closing at 892 points. Cape index was up ...
Friday, 15 March 13
CHEAP SHIP VALUATIONS DON'T NECESSARILY MEAN ATTRACTIVE SAYS VESSELS VALUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With ship prices plunging by double-digits in the past few years, many ship owners are pondering their next moves in a market often described as att ...
Thursday, 14 March 13
SUPRAMAX : INDO - INDIA TRIP RATE IS AROUND $10,000; SOUTH CHINA $9500 - FEARNRESEARCH
Handy
Indian market is still quiet in respect of export of iron ore. WC India market has improved with a few stems out of the MEG, WC India opening ...
Thursday, 14 March 13
DRY BULK MARKET KEEPS ON RISING MOMENTUM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has maintained its rising momentum, on the back of increased cargo availability. According to yesterday's figures, the industry ...
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- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Aditya Birla Group - India
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