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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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Wednesday, 02 July 14
THE PANAMAX MARKET CONTINUED TO BLEED FOR ANOTHER WEEK - INTERMODAL
COALspot.com: The Dry Bulk market succumbed to mounting pressure this past week, while the Capesize market proved unable to “save the day&rdq ...
Wednesday, 02 July 14
HANDY BULKERS PROVE TO BE THE MOST SOUGHT AFTER VESSELS OVER THE PAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The Handy dry bulker proved to be the most sought after ship by ship owners active in the second hand market, which saw a slight decline in terms o ...
Wednesday, 02 July 14
SHIPPING: MARKET INSIGHT - GEORGE DERMATIS
After 6 months, 57 ministerial meetings and 67 political agreements, the journey of the Greek Presidency in the EU reached its end yesterday; only ...
Tuesday, 01 July 14
INDIAN POWER PLANT COAL STOCKPILES VERY LOW
COALspot.com: According to today's Weekly Dry Bulk Report published by Commodore Research, Indian power plant coal stockpiles have now fallen t ...
Monday, 30 June 14
SUB-BIT FOB INDONESIA COAL PRICES ARE STILL STRUGGLING TO RECOVER
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on week and on month according to AsiaClear OTC coal swap's reports release ...
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- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- GMR Energy Limited - India
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- PTC India Limited - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- White Energy Company Limited
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
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