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Monday, 21 April 14
DRY BULK MARKET UPS AND - MOST RECENTLY - DOWNS OFFERS NO ROOM FOR RELAXING AMONG DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's latest demise, with the market retrating once again, since the end of March, has come at a time, when most ship owners, analysts and pundits alike, were looking towards 2014 being a "breakout" year, one that would solidify the market's recovery after almost five years in the doldrums, amid a hefty orderbook and modest demand. So far, those projections seem far off, at least from the market's point of view. Of course, all this could change in a couple of monhts, but for the time being it is what it is.
In its latest weekly report, shipbroker Intermodal commented that despite the dry bulk market's negative performance, "we are witnessing asset values remaining at much higher levels than compared to those of August 2013, the same period the BDI had last visited the 1,000 level mark. At the same time the average TC is either worse than what it was back then, as in the case of Capes and Panamaxes or just a tad better, as in the case of the smaller size segments. But even in the case of Supras and Handies that experience a slightly better freight market, the second hand values are way higher than what they were 8 months ago".
SnP broker, Mr. George Iliopoulos, highlighted the example of a seven year old Panamax, which was soldd at around $18 million back in August. "The market for the same vessel today would be somewhere around USD 26 mil, while the average TC for the segment stands at around USD 6,500/day, when back in August it was around USD 7,500/day. During the past month, the number of sales candidates has increased a lot. If someone takes a closer look, they can see that, with the exception of Japanese owned vessels maybe, the majority of sales candidates are vessels that were bought at very low levels sometime between 2012 and 2013, which means that their owners are hoping to lock a good profit from selling back their vessels. A number of fifteen year old Handymax vessels that were bought between USD8mil and USD 9mil in either 2012 or 2013, are currently in the market for a price tag of around USD 13.5mil, which undoubtedly is a great return", Iliopoulos noted.
He added that "psychology, as always, is still playing a very important role for both buyers and sellers, while it is currently very difficult for anyone to make predictions, as the markets nowadays are influenced by many factors, some of which are not even explicit in the way they are linked to the shipping market. Under such circumstances, and with the freight rates being in a free fall during the past weeks, some potential buyers are more hesitant to go ahead with a purchase. At the same time, others believe that the bad performance of rates is only periodic and try to take advantage of a possible break down in the psychology of Sellers, who might have started feeling less confident than before, both because of the bad market but also due to the decreased number of potential buyers around, most of them having already made an acquisition during the past year".
Iliopoulos noted that "if we try to summarize the first quarter of 2014, we can say that in terms of freight rates the performance in the Dry Bulk market has not met the high expectations created following the mini rally at the end of last year, but at the same time there are a lot of people who firmly believe that the market will make a come-back in 2014 and freight rates will bounce back up. Evident of this optimism is the firm numbers still being achieved in the second-hand market even for older vessels, like in the case of the ‘ASIAN EXCELSIOR’ (45kdwt-blt96 Taiwan), which was very recently sold in excess of USD 11 mil.
So let’s hope that going forward the performance of freight market will follow that of the second-hand market, so that our industry gets a break and starts operating under healthier fundamentals and sustainable growth", he concluded.
It's also worth noting that in its latest short term analysis, BIMCO noted that despite the recent fall of the Baltic Dry Index (BDI), when one compares the first quarter of 2014, to similar quarters of the recent past, it is apparent that the market is rising. For this particular period, BIMCO believes that the level of Capesize TC average rates will hover around USD 12,000-22,000 per day.
Panamax TC average rates will still feel the supply pressure in the region of USD 5,000-10,000 per day. For the Supramax segment, BIMCO forecasts freight rates in the USD 10,000-14,000 per day interval supported by more Atlantic cargoes, whereas Handysize rates seen in the solid region of USD 8,000-10,000 per day.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 07 July 14
RBCT, THE WORLD'S SINGLE LARGEST EXPORT COAL TERMINAL SHIPPED 31.91 MMT OF COAL IN H1 2014
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the world’s single largest export coal terminal, shipped 31.91 million ton ...
Monday, 07 July 14
SOUTH AFRICA'S RICHARDS BAY COAL TERMINAL SHIPPED 12% LESS COAL IN JUNE COMPARED TO MAY EXPORTS
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the world’s single largest export coal terminal, shipped 4.91 million tons ...
Monday, 07 July 14
INDONESIAN SUB-BIT COAL SWAPS FOR Q3 DELIVERY CRASHES THROUGH $ 54.50
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 07 July 14
API 8 CFR SOUTH CHINA COAL SWAPS SHOW A DOWNWARD TREND THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in Q3 drops US$ 5.47 month on month on Friday, dipping under $68 a ton. The CFR South Ch ...
Sunday, 06 July 14
PANAMAX INDEX BEING THE BIGGEST GAINER THIS WEEK; UP 52.75% W-O-W
COALspot.com: This week there was some positive signs in all the sectors. The Panamax index being the biggest gainer this week after losing for sev ...
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- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
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