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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, 16 June 14
API 8 CFR SOUTH CHINA COAL SWAPS FALL CONTINUES THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 4.34 percent month on month and closed at US$ 71.05 per mt a ...
Sunday, 15 June 14
COAL FREIGHT RATES FALL FURTHER ON LACK OF DEMANDS - CAPT. REDDY
COALspot.com: The BDI softened this week as all segments fell this week. The Panamax sector being most affected. The Cape index was down 3.51 pct w ...
Friday, 13 June 14
US COAL PRODUCTION FELL 3% IN WEEK THAT ENDED JUNE 7, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
Friday, 13 June 14
DRY BULK MARKET KEEPS ON FALLING, DESPITE RESPITE OF THE CAPESIZE SECTOR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on its lacklustre performance overall, with the Baltic Dry Index (BDI) still hovering below the 1,000 point mark. Yest ...
Thursday, 12 June 14
INDONESIA SETS HBA FOR MONTH OF JUNE AT US$ 73.64
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised up first time in last four months the coal bench mark price. ...
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- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- PTC India Limited - India
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
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