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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, 14 March 13
SHIPPERS AND CARRIERS NEED GREATER COMMUNICATION AND MUTUAL UNDERSTANDING
Press Release – Shippers and shipping lines both need to raise their game if global container supply chains are not to be habitually subject t ...
Wednesday, 13 March 13
NEWBUILDING PRICES EXHIBIT NO FALL IN PAST SIX MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the fact that oversupply has been the key plague of the shipping markets in recent years and newbuilding ordering activity has receded subst ...
Tuesday, 12 March 13
COAL MINING PRIVATIZATION IN INDIA: MUST - SUNIL K KUMBHAT
COALspot.com - India has the one of the richest coal reserves in the world and the country should have shown significant progress and gained the pos ...
Tuesday, 12 March 13
NEWCASTLE PORT SHIPPED 2.47 MILLION TONS OF COAL W/E 11 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2,471,080 MT of thermal and coking coal for week ended 0700 hours 11 March 2013, Newcast ...
Monday, 11 March 13
SUB-BIT FOB INDONESIA COAL SWAPS FELL 1.41 PERCENT W-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 1.41percent and CFR South China coal shipment ...
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- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- The University of Queensland
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
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