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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, 04 June 14
SKULD: DIVERSIFICATION AND A ROBUST BOTTOM LINE
In February, I was delighted to ring in the new policy year with the Skuld team following a solid renewal round and a strong year. 2013 was, in man ...
Monday, 02 June 14
SUB-BIT FOB INDONESIA COAL SWAPS LOST GROUND THIS WEEK
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, 02 June 14
SOUTH CHINA COAL SWAP WAS SHOWING A POSITIVE MOVE IN Q4, INSTEAD OF THIS WEEK'S WEAK TREND
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 3.39 percent month on month and closed at US$ 72.65 per mt as on F ...
Sunday, 01 June 14
INDO - INDIA SUPRMAX FREIGHT RATES CONTINUED TO DOWN THIS WEEK
COALspot.com: The freight market was soft this past week as all sectors soften particularly Panamax index was lost 129 points or 12.88% week on wee ...
Friday, 30 May 14
CLEAN COAL PROCESSING & CONVERSION ASIA SUMMIT 2014
Clean Coal Processing & Conversion Asia Summit 2014 will be held on Nov 20-21st, 2014 in Jakarta, Indonesia.
With the cooperation of ...
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- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Parliament of New Zealand
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- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Australian Coal Association
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Posco Energy - South Korea
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- The University of Queensland
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
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