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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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Friday, 27 September 13
TAIWAN'S FORMOSA TO IMPORT 140K MT OF BITUMINOUS COAL FOR Q4
COALspot.com : Taiwan's Formosa Plastics Group is inviting bids for 140,000 mt of bituminous coal for delivery in the Q4 for its China plant.
Ac ...
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 h ...
Friday, 27 September 13
US PRODUCED 19.30 MMST OF COAL IN SEVEN DAYS
COALspot.com – United States the world’s second largest coal producer produced approximately 19.30 million short tons (mmst) of coal in ...
Thursday, 26 September 13
PANAMAX MARKET CONTINUE WITH STRONG RATES IN BOTH BASINS - FEARNRESEARCH
Handy
Feast rates are still firm, some fresh stems entered the market. Vessels trading around $15k passing Singapore for coal to India, and a bit l ...
Thursday, 26 September 13
INTERCARGO PUBLISHES BENCHMARKING BULK CARRIERS 2012-13 REPORT
The International Association of Dry Cargo Shipowners (Intercargo) has today launched Benchmarking Bulk Carriers 2012-13, the latest edition of our ...
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Showing 4096 to 4100 news of total 6871 |
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- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Marubeni Corporation - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- The University of Queensland
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
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