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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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Sunday, 30 March 14
FREIGHTS FROM INDONESIA TO INDIA IS EXPECTED TO BE SOFT NEXT WEEK - REDDY
COALspot.com: The freight market dropped drastically and all sectors were affected severely.
The BDI was down by 14.13 pct and closed at 1, ...
Friday, 28 March 14
US PRODUCED APPROXIMATELY 18.9 MMST IN A WEEK - EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Friday, 28 March 14
CHINA'S ENVIRONMENTAL MEASURES WILL NOT CURB GROWTH IN DOMESTIC STEEL PRODUCTION AND SEABORNE IRON ORE - WOOD MACKENZIE SAYS
Steel plants in China have been targeted as a major source of the toxic smog enveloping Beijing and Shanghai. Emergency measures have been impos ...
Thursday, 27 March 14
PANAMAX : SEEMS TO HEAD FURTHER DOWN; CAPESIZE : ANOTHER CHOPPY AND UNPREDICTABLE WEEK - FEARNLEYS AS
Handy
A weaker sentiment for the smaller size as well, with reduced activity in the Atlantic where Owners have to face significantly lower ret ...
Wednesday, 26 March 14
NEWBUILDING ORDERING ACTIVITY PICKS UP PACE ON IMPROVING DRY BULK MARKET CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The gradual improvement of the dry bulk market, as expected for some time now, is urging shipowners to increase their newbuilding ordering activ ...
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- Bangladesh Power Developement Board
- Planning Commission, India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- The University of Queensland
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- MS Steel International - UAE
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
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