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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, 15 April 14
NEWCASTLE SHIPPED MORE COAL WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 14 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensl ...
Monday, 14 April 14
SUB-BIT FOB INDO COAL SWAP FOR Q1' 15 DELIVERY CLOSED AT US$ 60.12 PER MT
COALspot.com: Indonesian coal swaps for average Q4’ 2014 gain on month and on week according to AsiaClear OTC coal swap's reports rele ...
Monday, 14 April 14
INDONESIA'S Q1 COAL PRODUCTION LITTLE CHANGED EVEN WITH PRICE DROP - INVESTOR DAILY
Indonesia’s coal production by volume in the first quarter remained little changed from the same period last year despite the decline in t ...
Monday, 14 April 14
API 8 CFR SOUTH CHINA COAL SWAPS GAIN FOR THE MONTH & WEEK
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 4.61 percent month on month and closed at US$ 76.18 per mt as ...
Monday, 14 April 14
CHINA'S MEASURES TO STIMULATE ECONOMY'S GROWTH COULD OFFER ROOM FOR STABILITY IN SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Since the outbreak of the 2008-crisis, the shipping industry, in most of its aspects, i.e. dry bulk and tanker markets alike, has been dealing w ...
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- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- The University of Queensland
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Planning Commission, India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Australian Coal Association
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
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