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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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Monday, 04 November 13
API 8 CFR S.CHINA COAL SWAP FOR Q3' 2014 DELIVERY CLOSED 3.65% HIGHER COMPARED TO Q1' 2014 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q4 2013 delivery fell 0.24 percept W-W on Friday 1 November 2013. The CFR South China Co ...
Sunday, 03 November 13
H2' 2014 INDONESIAN COAL PRICE ( SWAPS) SHOWS POSITIVE TREND
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’2014 delivery gained 0.24 percept week on week on Friday 1 ...
Sunday, 03 November 13
THE CAPE SIZE INDEX FELL 13.61 PCT W-W
COALspot.com: The freight market continued to soften on the cape and panamax sectors , however the supramax and handy size remained fairly firm.
...
Saturday, 02 November 13
DRY BULK SHIPPERS AREN'T CELEBRATING, BUT THEIR SILENCE IS GOLDEN - MARKET REALIST
In October, performance for major dry bulk shipping companies was mixed. Companies like DryShips Inc. (DRYS) had pulled back more than Diana Shippin ...
Friday, 01 November 13
US'S COAL PRODUCTION UP 0.9 PERCENT W-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.3 million short tons (mmst) of coal in ...
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- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
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