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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, 23 June 14
INDONESIAN COAL SWAP FOR Q3 DELIVERY LOST 8.60% Y-O-Y;4.80% M-O-M
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, 23 June 14
COAL SWAPS DROPS FURTHER MONTH ON MONTH ON WEAK DEMAND
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 6.91 percent month on month and closed at US$ 69.00 per mt a ...
Sunday, 22 June 14
THE PANAMAX COAL FREIGHT FROM INDONESIA TO INDIA SLIPPED THIS WEEK
COALspot.com: The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell slightly on Friday ...
Friday, 20 June 14
DRY BULK MARKET LOOKING FOR UPSIDE ON ROBUST SEABORNE IRON ORE TRADE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn’t been able to justify the heightened expectations this year. Yesterday, the Baltic Dry Index managed to inch forwar ...
Friday, 20 June 14
US WEEKLY COAL PRODUCTION DROPS 1.8% WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 18.3 million short tons (mmst) of coal in a ...
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- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Kohat Cement Company Ltd. - Pakistan
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- Coal and Oil Company - UAE
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- Parry Sugars Refinery, India
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- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
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- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
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- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
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- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- PTC India Limited - India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
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- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- The University of Queensland
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Planning Commission, India
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
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