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Wednesday, 16 October 13
WILL THIS LATEST DRY BULK MARKET UPTREND PROVE TO BE AS LONG-LIVED OR JUST ANOTHER MOMENTARY SPIKE? - CHRISTOS MANZTIOS
 COALspot.com: So here we are again facing the same old question: Will this latest market uptrend prove to be as long-lived as all owners hope or just another momentary spike which will deflate at the first signs of trouble?, said Christos Manztios a SnP Broker from Intermodal in his latest weekly report.
According to Christos Manztios, the dry bulk market, despite having been on a roller coaster ride since early spring, has now entered the seasonally strong months of October and November with renewed optimism. But this might come at price: Renewed optimism might result in a flurry of new-building activity/ordering which could, if done in excess, ultimately tip the scales against owners once again.
Intermodal's analyst Manztios said his latest report, albeit the improved market conditions, new ordering have seemingly started to slow down as the lack of availability of early slots (now seeing early to mid-2016) coupled with rising NB prices have both started to take their toll on buying interest. During September the dry bulk market witnessed a total of 58 dry orders, with Ultramaxes holding the lion's share and numbering 22 in total, while Handies closely followed in volume with 21.
For the time being new building capacity seems to be waning, with several shipbuilders already limiting production in many of their facilities and overstretching their slots’ schedule. This has worked fine so far, but as freight earnings start to improve and in turn we see ever growing demand for new orders, shipbuilders will inevitably seeks to remobilize their unused resources and step back up to full production, plaguing the industry with excess tonnage supply once again, Intermodal weekly report said.
According to Intermodal weekly report, Greek owners top the list for NB orders placed so far this year in terms of both number of vessels and dwt (131 vessels/11.7 mill dwt) followed by Japanese owners in terms of number of ships (106 vessels/4.2mill dwt) and Chinese owners in terms of dwt (96 vessels/6 mill dwt). Greek buyers also dominated the second hand market as well, with one in every four vessels that changed hand during 2013 ending up to a Greek buyer and at ever higher prices.
This is epitomized in the likes of sales such as that of the M/V Cape Challenger (180kdwt blt 2013 IHI) and M/V JK Pioneer (180kdwt blt 2013 HHI) which were reported sold reg USD 52mill each, a sharp appreciation in price when compared (especially taking into account the fact that the sale was included by a below market charter attached of USD 11,000/day till May 2014) with the sale of M/V Bulk Canada (180kdwt blt 2012 Hanjin Philippines) reg USD 41.25mill back in August.
"This trend is not solely attributed to the freight rally in Capes but also backed by both an overall positive perception as to the prospects of the market from 2014 onwards and the still attractively-priced assets across all size segments (at least in comparison with pre-2012 levels where a 5 year old Cape was priced above USD 36.0 mill, a 5 year old Panamax above USD 26.5 mill and a 5 year old Supramax was above USD 24,5 mill)," according to Intermodal's analyst Manztios.
Caution (and eye-brows) may have been raised as to the potential longevity of the recent run-up in freight rates, but it doesn’t look like the upward momentum is over just yet. Things may have slowed down for Capes, but with their average freight rates still holding above 30,000/day and with the rest of the size segments slowing showing signs of catching up in gains, it will all depend to what extent this positive momentum can hold and how well these new market conditions will hold up in the first quarter of 2014 a period in the year that tends to be considerably softer and a good indicator as to how well the market will perform during the whole year, Christos Manztios a SnP Broker from Intermodal concluded.
Compiled by:
Intermodal Research & Valuations | research@intermodal.gr
Analysts:
Mr. George Lazaridis | g.lazaridis@intermodal.gr
Ms. Eva Tzima | e.tzima@intermodal.gr
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Sunday, 10 November 13
PANAMAX COAL FREIGHT RATES REMAIN UNDER PRESSURE; SUPRAMAX BIGGEST GAINER - REDDY
COALspot.com: The freight market was up this week with all indices increased except for Panamax index.
The BDI was up by 56 points closing at 158 ...
Friday, 08 November 13
DRY BULK MARKET BOUNCES BACK ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market staged a mild comeback this week, as the industry's benchmark, the Baltic Dry Index (BDI) inched forward step by step and bit b ...
Friday, 08 November 13
US'S OCTOBER COAL PRODUCTION INCREASED BY 1.78% M-M - EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.3 million short tons (mmst) of coal in ...
Thursday, 07 November 13
FORMOSA PLASTICS SEEKS 80K MT OF 5850 GAR COAL
COALspot.com: Taiwan's Formosa Plastics Group is inviting bids for 80,000 mt of bituminous coal for delivery in Nov - Dec'13 for its Chi ...
Thursday, 07 November 13
INDONESIAN COAL EXPORT VOLUME INCREASED; REVENUE DECREASED
COALspot.com: Indonesia, the 15th largest economy, 4th largest coal producer in the world and world's largest multi grade coal exporter shipp ...
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Showing 4021 to 4025 news of total 6871 |
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- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Planning Commission, India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- McConnell Dowell - Australia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
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