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