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