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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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Friday, 23 May 14
U.S. WEEKLY COAL PRODUCTION SLIPS 1.8% WEEK ENDED MAY 17, 2014
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
Friday, 23 May 14
DRY BULK NEWBUILDING CANCELLATIONS COULD HELP SUPPORT MARKET IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's demise over the past few months maybe has come as a surprise to many, but analysts and shipbrokers are looking forward to ...
Thursday, 22 May 14
HEAR SUCCESSFUL CASE STUDIES FROM 10 INDEPENDENT UNCONVENTIONAL GAS OPERATORS
Unconventional Gas Asia 2014 will provide a unique opportunity for Asia’s unconventional gas leaders to share their experience and expertise ...
Thursday, 22 May 14
CNPC-GAZPROM DEAL A MEDIUM - TERM POSITIVE FOR CHINA'S GAS SECTOR
Fitch Ratings says a 30-year deal in which Russia's OAO Gazprom (BBB/Negative) will supply gas to China National Petroleum Corporation (CNPC; A ...
Thursday, 22 May 14
CAPESIZE : RATES ARE STILL UNDER PRESSURE
Handy
A quiet start into the week in Far East, some fresh Indonesian coal order in the market. For trips within S.E. Asia, Supras are trading aro ...
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- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Planning Commission, India
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
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