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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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Wednesday, 23 April 14
KOMIPO INVITES BIDS FOR LOW VOLATILE BITUMINOUS COAL
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 90,000 Metric Tons (MT) of low volatile bit ...
Tuesday, 22 April 14
INDONESIAN MARCH COAL EXPORT VOLUME SURGE 9.12% TO 35.54 MMT
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.9 ...
Tuesday, 22 April 14
NEWCASTLE WEEKLY COAL EXPORTS FELL 13.33% THIS PAST WEEK
COALspot.com: In the week ended 07:00 hours 21 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensl ...
Monday, 21 April 14
Q1'15 SUB-BIT FOB INDONESIA COAL SWAP SHOWING A POSITIVE TREND
COALspot.com: Indonesian coal swaps for average Q2’ 2014 gain on month and on week according to AsiaClear OTC coal swap's reports rele ...
Monday, 21 April 14
Q4 2014 AND Q1 2015 COAL SWAPS CLOSED MARGINALLY HIGHER COMPARED TO Q2 PRICES
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 0.87 percent month on month and closed at US$ 76.15 per mt as ...
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- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Australian Coal Association
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- The University of Queensland
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- MS Steel International - UAE
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
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