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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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Tuesday, 29 April 14
Q4 SUB-BIT INDONESIA COAL SWAP CLOSED US$ 1.07 HIGHER COMPARED TO Q2 DELIVERY PRICE
COALspot.com: Indonesian coal swaps for average Q2’ 2014 gain on month and on week according to AsiaClear OTC coal swap's reports rele ...
Tuesday, 29 April 14
NEWCASTLE SHIPPED 3.03 MILLION TONS WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 28 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensl ...
Tuesday, 29 April 14
Q2 API 8 CFR SOUTH CHINA COAL SWAP LOST 0.29% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 0.29 percent month on month and closed at US$ 75.43 per mt as o ...
Monday, 28 April 14
CHINA LIKELY TO FALL SHORT OF NUCLEAR POWER TARGETS AT 175GW OF CAPACITY BY 2030 - WOOD MACKENZIE
Coal will remain dominant supply at 64% of power mix
Wood Mackenzie forecasts that China will not meet its environmentally-driven, government ...
Sunday, 27 April 14
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO BE STEADY NEXT WEEK
COALspot.com: The freight market seems to have bottomed out and saw some marginal gains in all segments, said Capt. Reddy of Vistaar Shipping In ...
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- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
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