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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, 02 May 14
US WEEKLY COAL PRODUCTION RELATIVELY FLAT AT -0.1%, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
Friday, 02 May 14
DRY BULK MARKET SHOWING SIGNS OF COMEBACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market which has been hovering below the 1,000-point market (BDI) during the past couple of weeks, could be exhibiting signs of a s ...
Thursday, 01 May 14
INDONESIA EXPORT BAN POINTS TO QUESTIONS OVER CHINA'S LONG-TERM BAUXITE SUPPLY - WOOD MACKENZIE
China’s Bauxite demand forecast to reach 240 million tonnes by 2030
In light of the Indonesian mineral ore ban that came into force o ...
Thursday, 01 May 14
DRY BULK MARKET STILL REELING UNDER PRESSURE FROM VARIOUS FACTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's revival is still overdue, as the industry's benchmark, the BDI is still lagging below the 1,000-point mark. In fac ...
Wednesday, 30 April 14
FREIGHT MARKET FOR DRY BULKERS STILL REMAINS WEAK - INTERMODAL
One week after the Easter holiday and the celebration for the resurrection of Christ, everybody expected to see a similar sign of a revival in t ...
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- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
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