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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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Thursday, 15 May 14
USA COAL CONFERENCE
Press Release: IHS Inc. (NYSE: IHS), the leading global source of information and analysis, will host the Coal USA Conference, June 18-20, 2014, ...
Wednesday, 14 May 14
COAL PRICES IN CHINA HAVE DROPPED TO THEIR LOWEST LEVELS SINCE END-2008
COALspot.com: Coal prices in China have dropped to their lowest levels since end-2008, Fitch says in its latest rating report on one of the coal ...
Wednesday, 14 May 14
ALMOST THROUGH THE HALF OF THE YEAR, THE DRY BULK INDEX SHOW SIGNS OF WEAKNESS; CREATING TO BOTH EXISTING SHIP OWNERS AND POTENTIAL INVESTORS A LOT OF INSECURITY - PANOS MAKRINOS
Almost through the half of the year, the overall shipping market and more specifically the Dry Bulk Index show signs of weakness, creating to bo ...
Tuesday, 13 May 14
NPC COAL EXPORT VOLUMES PLUNGE TO 2.48 MMT WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 12 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Quee ...
Tuesday, 13 May 14
YET ANOTHER POSIDONIA EXHIBITION IS ON ITS WAY - INTERMODAL
With less than a month to go before another Posidonia exhibition starts and all the parties and celebrations get under way we thought that it wo ...
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- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Planning Commission, India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Central Electricity Authority - India
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- The University of Queensland
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
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