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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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Friday, 01 November 13
DRY BULK MARKET IN FIRST POSITIVE SIGN IN DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Owners of dry bulk carriers are well aware of the rollercoaster ride that has been the market for their vessels over the past few years. This trend ...
Thursday, 31 October 13
HANDY: ACTIVE; PANAMAX: QUIET; CAPESIZE: NO LIGHT
Handy
The handy market had an active week however not directly translated into the rates we´ve seen in the Pacific. We see more coal and baux ...
Wednesday, 30 October 13
INDONESIAN STATE OWNED COAL MINER HAS EXPORTED 7.02 MILLION TONS OF COAL IN 9 MONTHS
COALspot.com : PT. Bukit Asam, Indonesian state owned coal miner has sold 13.24 million tons of coal for the period January - September 2013. Accord ...
Wednesday, 30 October 13
DRY BULK MARKET HAS LOST FURTHER GROUND THIS PAST WEEK - INTERMODAL
Chartering (Wet: Firm+ / Dry: Stable-)
The Dry Bulk market has lost further ground this past week, as de-creased activity in both basins for both C ...
Wednesday, 30 October 13
CAPESIZE: DOWNWARD; SUPRAS AND HANDIES: STABLE - INTERMODAL
The Dry Bulk market has resumed its downward movement, noting another dip for a third week in a row. The larger size segments were responsible for p ...
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Showing 4036 to 4040 news of total 6871 |
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- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
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