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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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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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- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- GMR Energy Limited - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- The University of Queensland
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Economic Council, Georgia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
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