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Thursday, 24 October 13
SHIP PRICES ARE INCREASING ON THE BACK OF IMPROVED MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating from its recent highs, ending yesterday at 1,786 points, down 61 points on the day, with Capesizes leading the decline. Still, according to shipbrokers, market sentiment remains positive, despite the fact that the average Capesize earnings have declined from their recent peaks of $42,000/day, down to $28,000/day. According to the latest weekly report from shipbroker 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 Mr. Yannis Olziersky, SnP Broker, "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" he noted.
The same story is taking place in 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. 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", Olziersky mentions.
He added that "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. 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", Olziersky concluded.
Commenting on the new building market this week, Intermodal said that "activity on the new building front is keeping its pace, with the majority of the deals coming to light this past week being for dry tonnage. Although we are trying to be as realistic as possible regarding this recent boost in new building prices for dry bulkers, the truth is that most of the contracts that are being inked lately, are steadily done on firmer and firmer prices, creating a higher market average for almost all sizes in the sector. Some of the most recently reported orders for Capes are displaying a clear trend that we should be soon moving into the mid $ 50s million territory for the segment, having us think that from that level the figure could easily jump to the $ 60.0m area, especially for earlier slots should demand continue to be strong and the freight market improve further in the next twelve months. In terms of new orders, Greek owner Alpha Tankers & Freighters, was reported placing an order of four firm Capesize vessels (180,000dwt) at Hyundai Mipo, in S. Korea, for a price of $ 56.5m each and with delivery set between 2015 and 2016".
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 07 November 13
THE ENERGY INDUSTRY'S RISING WATER CHALLENGE - WOOD MACKENZIE
Water poses a variety of business risks for the energy industry, and could play an influential role in shaping the future energy supply mix, accordi ...
Thursday, 07 November 13
HANDY : INDO/CHINA ROUNDS ARE SEEING BIDS AT AROUND $16K
Handy
In the Atlantic we have seen more activity this week with several fixtures being concluded at firm rates. USG/Feast been reported at 30k and ...
Wednesday, 06 November 13
THE BIGGER SIZE SEGMENTS LOST GROUND WHILE SUPRAS AND HANDIES HELD ON TO THEIR GAINS - INTERMODAL
Chartering (Wet: Stable+ / Dry: Stable- )
A mirror image of the week prior for the Dry Bulk market, as once more the bigger size segments los ...
Wednesday, 06 November 13
WILL NEW ORDERS DRIVE THE MARKET DOWN AGAIN ONCE DELIVERIES COMMENCE
"While there are many concerns on whether the new orders will drive the market down again once deliveries commence, the second half of 2013 has ...
Tuesday, 05 November 13
AUSTRALIA'S NEWCASTLE PORT SEES DROP IN COAL EXPORTS W-W
COALspot.com: In the week ended November 4, Power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totaled 2.77 m ...
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Showing 4026 to 4030 news of total 6871 |
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- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Minerals Council of Australia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Planning Commission, India
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- White Energy Company Limited
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
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