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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, 10 March 13
INDIA - INDONESIA SUPRAMAX FREIGHT : FIRM TREND
COALspot.com – This week freight market was raised and remained firm in all segments.
The BDI was up by 6.70 pct closed at 843 points, ...
Sunday, 10 March 13
INDONESIA'S FORESTRY DEPARTMENT IS TO INCREASE BORROW-TO-USE PERMITS (IJIN PINJAM PAKAI) FEE SOON
COALspot.com : Indonesia to increase borrows-to-use permit fees by 33.33 percent. The government of Indonesia is planning to increase the state&rsqu ...
Friday, 08 March 13
EKO SANTOSO BUDIANTO APPOINTED AS PRESDIENT DIRECTOR OF BERAU COAL ENERGY
COALspot.com - PT Berau Coal Energy has appointed Eko Santoso Budianto as new president director, replacing Rosan Roeslani. Berau’s extraordin ...
Friday, 08 March 13
INDONESIAN HBA UP FOR FIVE CONSECUTIVE MONTHS
COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in March 2013.
The monthly coal reference ...
Friday, 08 March 13
DRY BULK MARKET ON A RISING TREND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its rising pattern set after China opened up again for business, following the Asian New Year Holidays. As a resul ...
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- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- White Energy Company Limited
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- PTC India Limited - India
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Bhatia International Limited - India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Planning Commission, India
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
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