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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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Saturday, 07 June 14
U.S. MONTHLY COAL PRODUCTION SLIGHTLY HIGHER IN MAY 2014
COALspot.com – United States the world's second largest coal producer, produced approximately 19.2 million short tons (mmst) of coal in a ...
Friday, 06 June 14
RICHARDS BAY COAL TERMINAL SHIPPED 4.221 MMT OF COAL TO SOUTHERN ASIAN COUNTRIES IN MAY
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 5.58 million tons ...
Thursday, 05 June 14
RBCT SOUTH AFRICA SHIPPED 21% LESS COAL IN APRIL COMPARED TO MARCH EXPORTS
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 5.45 million tons ...
Thursday, 05 June 14
PANAMAX : THIS WEEK STARTED IN A SLOW PACE - FEARNLEYS
Handy
After last week's silent and unexciting week we see some more activity this week, especially from the South American market. The rates ...
Thursday, 05 June 14
PORT OF NEWCASTLE SHIPPED 2.91 MMT OF COAL IN THIS PAST WEEK
COALspot.com: The figure constitutes a 4.30 percent higher compared to the previous week, following a week on week decreased of 19.13 percent recor ...
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- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Minerals Council of Australia
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- White Energy Company Limited
- Chamber of Mines of South Africa
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