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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 Shipping Inc. (DSX), while a few like Safe Bulkers Inc. (SB) and Navios Maritime Holdings Inc. (NM) were able to hold onto gains in August and September.
Recap of this week’s key indicators
Despite recent sell-offs, the medium-to-long-term outlook of the dry bulk shipping industry hasn’t changed. Rising ship orders continue to reflect managers’ optimism, and the construction level is slowing down, which means future capacity growth will be lower. Higher scrapping activity likely reflects short-term weakness. But if the long-term trend holds, we should see scrapping activity come down soon.
While early shipments of iron ore led to an earlier peak in shipping rates, and shipping rates (Capesize in particular) have fallen in October, the dry bulk trade should continue to grow into 2014. Falling iron ore prices will reflect new iron ore production rather than weaker demand, which will support iron ore trade.
Despite higher iron ore inventory in China, it remains significantly below the long-term trend line, suggesting room for further purchases of iron ore over the medium to long term. In the short term, we can face headwinds because the interest rate in China has risen and credit is tighter than before. Because holding iron ore at ports costs money, tighter credit and higher interest rate is a short-term headwind. It’s important to be cautious, but it’s also key not to get scared. With steel price in China near the long-term support, the government would likely step in to support the economy if it faltered.
Silence is golden
As dry bulk shipping rates have fallen, so has the mention of dry bulk shippers in the news. But silence is golden. It’s times like this, when nobody is saying anything, that investors are slowly building positions and advancing like silent troops in the night. As long as these trends remain positive, we should see dry bulk shipping companies deliver positive returns over the next few months and quarters.
For those who missed last week’s series that contained several indicators about China’s economic activity, see Weekly trends that affect dry bulk shipping companies’ future.
economic activity, see Weekly trends that affect dry bulk shipping companies’ future.
Source: Market Realist / Hellenic shipping news
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Saturday, 07 December 13
A RARE TIME IN RECENT SHIPPING MARKET HISTORY: BOTH DRY BULK AND VLCC TANKER EARNINGS ARE ON THE RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Around this time of year, back in 2008, i.e. five years ago, the shipping markets were plagued with the aftermath of the global financial crisis tha ...
Friday, 06 December 13
INDONESIAN PARLIAMENT REJECTED A GOVERNMENT PROPOSAL TO EASE THE BAN ON EXPORTING UNPROCESSED ORE
COALspot.com: Indonesian House of Representatives rejected a proposal from Energy and Mineral Resources Minister Jero Wacik on to ease the ban on ex ...
Friday, 06 December 13
THE MINISTRY OF ENERGY & MINERAL RESOURCES OF INDONESIA FIXED DEC'13 HBA AT US$ 80.31
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 2.18 / MT ...
Friday, 06 December 13
US PRODUCED APPROXIMATELY 82.8 MILLION SHORT TONS OF COAL IN NOVEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
Friday, 06 December 13
PANAMAXES HAVE BEEN THE ' WEAPON OF CHOICE' BY MOST DRY BULK SHIP OWNERS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Low ship prices, the direct consequence of subdued freight rates for the larger part of 2013 have been the main driving force behind this year's ag ...
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- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- The University of Queensland
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
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