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Wednesday, 23 October 13
MARKET SENTIMENT IN THE DRY BULK SECTOR REMAINS POSITIVE - YANNIS OLZIERSKY
 Market sentiment in the dry bulk sector remains positive despite the latest correction in freight rates for the Capesize sector, which are sliding from their recent peak of USD 42k per day down to today’s levels of USD 28k per day, said Yannis Olziersky, SnP Broker, from Intermodal.
In addition to the strong Capesize market, which found support from the recent Chinese restocking and strong demand for iron ore, chartering activity for the other segments has also improved and is surging on the back of increased shipments of grains from the US Gulf and the Black Sea.
According to Intermodal's weekly report, The dry bulk market, it seems, is witnessing a U-turn in fate; bullishness, although restrained, has return to many market players since to them it appears as if the worst phase is now behind us and the market is expected to advance at a faster pace compared to that of last year. This restrained optimism has had its impact on second hand sales as well as on the new building market, as a significant number of vessels are changing hands at prices well above last done deals and sometimes well above Sellers’ ideas, due to the fact that competition between Buyers, in an effort to secure tonnage, is driving values well above recent levels.
Same story with the new building market, where slots at good shipyards are now scarce and offered prices have surged and are about 10-15pct higher compared to orders that were placed during 1H of 2013.
What will happen next? Are we on a firm recovery track or were the latest positive developments in freight rates based only on a typical seasonal spike? Having foresight in a volatile industry like shipping, which is highly dependent on so many different parameters, is difficult and dangerous to do.
Yannis Olziersky added in his research report that, on the other hand there are some irrefutable facts which cannot be overlooked. Seaborne commodities have increased about 6pct compared to last year; fleet growth increased about 5.8pct (year to date), which is the lowest we have seen during the last couple of years. Taking also into consideration that the world economy is on a recovery phase and that the global GDP is projected to increase at a higher rate compared to previous years it is expected that dry bulk commodities will keep trading at higher volumes compared to 2013.
At the same time it is expected that today’s rates will face a correction once Chinese iron ore inventories are replenished and the strong grain season comes to an end, he commended. There is no doubt that the market does not have the ability to grow at the same pace we experienced the past couple of months since the overcapacity issue is still there and uncertainty over the global economy remains despite better forecasts.
However, what is more important to note is that dry bulk fundamentals are expected to improve and as a result the average earnings for the years ahead look to be better compared to previous ones. Hence, taking a long term perspective and in the event that the global economy will remain firm on its recovery path, the demolition market keeps active and the new building ordering will hold near its current pace (i.e. at a more moderate pace compared with booming years), we see substantial signs to be optimistic and expect to have an overall upside in freight rates over the coming years, Yannis Olziersky 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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Thursday, 03 October 13
INDONESIA AUGUST COAL EXPORTS FALL 12.90 % FROM JULY TO 30.71 MIL MT
COALspot.com: Indonesia, the 15th largest economy in world, 4th largest coal producer in world and world's largest multi grade coal exporter ...
Thursday, 03 October 13
TOP FOUR U.S. COAL COMPANIES SUPPLIED MORE THAN HALF OF U.S. COAL PRODUCTION IN 2011 - EIA
In the past two years, more than half of U.S. coal production was attributable to the top four coal producers, the result of changes in regional pro ...
Thursday, 03 October 13
HANDY: PERIOD MARKET STAND IN GOOD POSITION - FEARNRESEARCH
Handy
Nickel ore and Bauxite was active last week but slowed down now due to Chinese holidays. Ships opened in North China fixed at US$ 11-13k leve ...
Wednesday, 02 October 13
DRY BULK MARKET IS STILL MAINTAINING ITS UPWARD DIRECTION
Chartering (Wet: Stable- / Dry: Firm+)
Despite the fact that rates for Capes didn't continue their crazy ride this past week, the Dry Bulk market ...
Wednesday, 02 October 13
HOW LONG WILL THIS LATEST CAPESIZE RALLY LAST? - TASOS PAPADOPOULOS
By Tasos Papadopoulos, SnP Broker, Intermodal
The surge in iron ore trade has translated into a massive boost in daily earnings for capes; with t ...
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Showing 4086 to 4090 news of total 6871 |
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- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- The University of Queensland
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Economic Council, Georgia
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
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