We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Sunday, 23 June 13
SHIP PRICES NOT FOLLOWING FREIGHT MARKET FUNDAMENTALS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 Although it's been the case in many occasions in the past, it appears that ship prices haven't been quite following freight market fundamentals, in terms of future prospects. According to the latest report from shipbroker Intermodal, over the past couple of months we have seen a drastic decoupling of the SnP markets from the reality of the freight markets. "This slowly developing two-tier structure is nothing new, however the widening gap between the two has recently been of much concern to most market players. But why is this gap developing and more crucially, is it sustainable?", wondered Intermodal's Research Analyst, Mr. George Lazaridis.
Attempting to explain this odd situation, he notes that "in the past any widening gap was more difficult to sustain as the fewer amount of asset players in the market left for a market environment with considerably less speculation. During the 2000’s boom this all changed rapidly as the financial markets started to heavily influence the way shipping people made investment decisions. The world of derivatives and complex financial instruments entered our world and had a profound effect, shifting our perspective of the ship itself. It no longer has the image of an industrial machine for transportation, but rather an exchangeable commodity that through time will fluctuate wildly in value. Fast forwarding to where we are today it seems that a part of that legacy has caused the creation of a more forward looking investor who is able to see the benefits of acting in a “bad market” in the hope that he has read the market correctly and that through the life of his investment the average return will be sufficiently lucrative", he said in the weekly report.
Lazaridis went on by noting that "looking at some of the latest deals that we have seen, is there any evidence that these have been done through valid analysis of the current market fundamentals or is it just wildly speculative? The answer to this is that we don’t know. With the market fluctuating in such a volatile way and so unpredictable at times, it seems to be that each investor has different beliefs as to where the market will be over the next couple of months. Its majority rule here and as the lack in serious sellers has kept buyers on their toes, prices have inevitably gone up as each interested buyer outbids the other in order to secure one of the few new sales candidates circulating the market", he said.
According to the analyst, "the nature of all these buyers has been the main driver of the recent price trends. Most upscale European buyers that would typically look at very modern units had been fairly inactive during most of 2012. Their sudden interest created a flurry of activity and over the past 5 months pushed prices up by between 15-20% for vessels of less than 10 years old across most size segments. Panamaxes and Supramaxes have been the ones drawing the most attention and as such have shown the biggest rise in prices", Lazaridis said.
Concluding his argument, he pointed out that "going back to the point of decoupling markets, freight rates have followed a wildly different course. Spot Rates are currently trending at considerably lower than the average seen during 2012 (in the case of Panamaxes that’s around 3% lower) and we haven’t even gone through the summer lull period yet.
FFA’s are also supporting this point further, with expectation for forward rates being soft for a considerable period into the future, although there has been a small upward correction over the past weeks. Even in the case where one would believe of an improving market within 2014 and 2015, there seems to be no reasonable basis for paying an extra premium this early in the cycle and in effect also having to suffer through several months of poor rates, while even the possibility for a recovery being so fragile and there is a constant overshadowing threat that further new ordering could take place and once again engulf the market with excess tonnage. Bets are being placed but I’m not sure that these current premiums will be sustained throughout 2013. As things hold in certain markets such as that of modern panamaxes, it seems to be a better option to sit on the sidelines and act coy in hope that the flock of current buyers will take their pickings and leave the markets once again to drop back down to levels that make more business sense", he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 11 June 13
COAL: NO SIGN OF RECOVERY - GABRIELLA
COALspot.com: We attended the 19th Annual Coaltrans Asia Conference, where we found most of the speakers were not very optimistic on the outlook for ...
Tuesday, 11 June 13
NEWCASTLE PORT SHIPPED MORE COAL WEEK ENDED 11 JUNE 2013
COALspot.com - Newcastle port in Australia has loaded 3,104,509 tons of coal for the week ended 0700 hours 11 June 2013, Newcastle Port Corp. ...
Tuesday, 11 June 13
OUTLOOK FOR CAPESIZES LOOKS GRIM, DESPITE FALLING IRON ORE PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Things aren't looking all that rosy for the dry bulk market, despite a stronger volume of iron ore imports during the months of March and April, as ...
Sunday, 09 June 13
CFR SOUTH CHINA COAL SWAP IS UNDER PRESSURE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have lost 0.03 percent week on week but gained 0.07 pe ...
Sunday, 09 June 13
IRON ORE DEMAND: WEAK; COAL MOVEMENT: STEADY TO INDIA AND CHINA - CAPT. REDDY
COALspot.com - The freight market was fairly steady with BDI up by 0.37 per cent closed at 812 points this week.
The Cape index was also ended in ...
|
|
|
Showing 4251 to 4255 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- The University of Queensland
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Planning Commission, India
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
|
| |
| |
|
