We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Friday, 27 September 13
CAPESIZES REGAINING PART OF THEIR FORMER GLORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The latest dry bulk market rally has been nothing short of spectacular, with freight rates more than doubling over the past few weeks. This growth has largely been led by the once again booming Capesize segment, the largest of the bulk carriers' breed. In its latest report, shipbroker Intermodal noted that with the Baltic Capesize Index now above 4,000 points and the average of the 4 TC routes only a breadth away from $40,000 per day, it looks as though the worst is now behind us and all market players take an opportunity for a breather and to reorganize their strategy.
According to Mr. George Lazaridis, Research Analyst, noted that "this climb in the freight market is no small feat. The last time we saw the freight market climb to these levels was back in 2010 in the respective September rally then. This was at a time when the Capesize and VLOC fleet stood at around 1,096 vessels compared to the current fleet of 1,437 (that’s give or take 500 deliveries minus scrapping and a more than 30% increase in carrying capacity). In comparison we now stand head to head with a considerably smaller order book schedule (14% order book to fleet ratio compared to the 50% seen in 2010) and are still seeing a strong rise in demand from commodities such as iron ore and coal albeit", he noted.
Lazaridis said that "as promising as the above may sound, this may end up being nothing more than just a September rally. Rates will drop back down from their current highs and although it doesn’t look likely that they will reach the lows of 2012 any time soon, it also looks unlikely that we will soon see a rapid boom in the market that would drive a major “bull rush” and that may well be why we haven’t really seen that many investors in a hurry to secure units in the second hand market nor slots in the new building market", he said.
Still, on the other hand, "looking at both the prices in the second hand market and new building market, you do tend tο wonder why we haven’t seen more activity? I mean it’s not like Capes had been excessively priced compared to Panamaxes, with the latter having witnessed a remarkable rise in interest and activity over the past nine months. Granted that all prices have now gone up since their previous rock bottom levels of December 2012, however there is still reason to take interest in this size segment. Resale, 5 year old and 10 year old units are trading at price levels which are at competitive levels when compared to their new building counterparts. Yes, they may not be new eco-designs, but the discount is still noteworthy (11%, 30% and 56% cheaper than a new building for resale, 5 year old and 10 year old respectively) and when compared to their current going period charter levels, it makes sense to take on this minimal risk as the pay-off seems to be significant", said Mr. Lazaridis.
He went on to note that "the current price gap that has occurred has been partly due to the sharp rise in new building prices over the past nine months which was at a faster pace than the second hand market could accommodate. What’s more is that although we are not at the absolute bottom anymore, we are still at low second hand price levels which were last seen in the early 2000’s. As an example, a five year old Capesize would be changing hands for US$ 35.0m in the second hand market in October 2003 while during the same period a new building would cost around US$ 42.5m (meaning that the then discount of a 5 year old vessel was only 22%). So there you have it. The fundamentals seem to be there for Capes this week and while it has been the Panamaxes that have attracted most of the interest over these past couple of months, it seems to be the Capesize market that is promising higher gains thanks to the current market arbitrage. That is all well and good if you can find a noteworthy vessel for sale in this market, because as it seems, as much as there may be a limited number of buyers for Capes, so too is there a shortage of good quality candidates circulating the market. As such, one wonders how much longer these low price levels may last?", Lazaridis concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Sunday, 22 September 13
BDI STRENGTHENS FURTHER AS CAPESIZE FREIGHT RATES JUMP - CAPT. REDDY
COALspot.com: The freight market continued its upward trend and maintaining the moment with BDI and Cape index up by 16 pct week on week. The Capesi ...
Sunday, 22 September 13
API 8 CFR SOUTH CHINA COAL SWAPS ADVANCE
COALspot.com : SGX has launched API 8 CFR South China Coal Swap on 29 April 2013 and SGX replaced the previous swap.
API 8 CFR South China Coal s ...
Sunday, 22 September 13
SUB-BIT INDONESIA COAL SWAPS REMAIN UNDER PRESSURE
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery down 2.09 percept month on month on Friday 20 September 2 ...
Friday, 20 September 13
SHIP OWNERS INVEST MORE THAN $9.2 BILLION ON NEW BUILDING VESSELS DURING AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the fact that August is traditionally a slow month in terms of ships investment activity, ship owners have grasped this year the opportunity ...
Friday, 20 September 13
DRY BULK MARKET REACHES NEW HEIGHTS THIS WEEK STANDING AT THREE-YEAR HIGH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The biggest rally of the dry bulk market in more than three years have brought back joy among ship owners, especially those active in the Capesize m ...
|
|
|
Showing 4106 to 4110 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Australian Coal Association
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- VISA Power Limited - India
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
|
| |
| |
|
