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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, 08 April 14
PORT OF NEWCASTLE SHIPPED 2.90 MMT OF POWER PLANT AND SEMI-SOFT COKING COAL IN A WEEK
COALspot.com: In the week ended 07:00 hours 7 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensla ...
Tuesday, 08 April 14
RBCT SHIPPED 53.79% MORE COAL IN MARCH 2014
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 6.90 million to ...
Tuesday, 08 April 14
APRIL 2014 INDONESIAN COAL PRICE REFERENCE DROPS TO LOWEST SINCE JANUARY 2010
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down again the coal bench mark price by US$ 2.20 / MT to ...
Tuesday, 08 April 14
TALKING ABOUT A ONE-HORSE RACE - GEORGE LAZARIDIS
Ever since the onslaught of the financial crisis, China along with the other BRIICs, have played a pivotal role in supporting global economic gr ...
Monday, 07 April 14
WEEKLY SUB-BIT FOB INDONESIA COAL SWAP CLAIMS EDGE FALL; TREND NEGATIVE
COALspot.com: Indonesian coal swaps for average Q4’ 2014 lost on month, day and on week according to AsiaClear OTC coal swap's reports ...
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- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
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- Goldman Sachs - Singapore
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- Romanian Commodities Exchange
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- Mintek Dendrill Indonesia
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- The Treasury - Australian Government
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- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
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