We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 14 May 14
ALMOST THROUGH THE HALF OF THE YEAR, THE DRY BULK INDEX SHOW SIGNS OF WEAKNESS; CREATING TO BOTH EXISTING SHIP OWNERS AND POTENTIAL INVESTORS A LOT OF INSECURITY - PANOS MAKRINOS
 Almost through the half of the year, the overall shipping market and more specifically the Dry Bulk Index show signs of weakness, creating to both existing ship owners and potential investors a lot of insecurity for what is in place for the second half of 2014, as well as further disbelief to those voices that inspired by the last quarter of 2013, were calling for a stable market during 2014.
Looking back to the beginning of the year we can say that from the month of February until the time of this writing, with the exception of a small rally, the market has struggled for the greater part, with the BDI returning to below 1,000 points. More specifically, in December last year and while the Index stood above 2,000 points, the overall sentiment was calling for an equally strong market in 2014, which never came.
The market has in fact followed a persistent downward trend until mid-February when we started seeing the first signs of improvement. The latter lasted for about a month, with the BDI peaking for the year within this period but still remaining below 2,000 points, and soon after that the downward trend resumed, bringing us to today.
Seeing the low levels the freight market has been fairing, most would normally expect that second-hand prices would have followed course, but it seems that it took a while before we started seeing the first discounts off last done sales and even the levels at which most vessels come in the market today still don’t reflect the current freight environment. There are in fact cases of modern Handymax to Panamax tonnage where inspection interest remains high allowing owners to hold firm on their asking price, while at the same time there are currently a lot more sales candidates from the Far East.
On the other hand, there are those who are more conservative and therefore unwilling to accept Seller’s ideas. Besides the fact that the current price levels make no sense to them, as long as these subdued freight rates persist, they are also very sceptic when it comes to the number of deliveries set to enter service within the next couple of years, predicting that a renewed overcapacity problem will most probably surface possibly creating another market bottom. Should they be proven right, we will certainly witness another round of softening asset values, both in the second hand and the new building market, especially if scrapping activity remains at the low levels we have been witnessing during the past months and despite those sky high demo prices around.
It is always both risky and difficult to make predictions and nobody could say with certainty what the next 6 months of 2014 hold for the market. And despite the fact that things have been far from rosy so far this year, let’s not forget that the first half of 2013 wasn’t a whole lot different with most predicting further price reductions, which nonetheless never materialized.
In terms of the overcapacity being created, let’s hope that the upcoming lower emissions rules, the Dry Docking for most of the 80’s built ships that will be due soon, as well as scrap subsidies similar to the ones offered in China, could well be some of the reasons that will restrict overcapacity. Will they nonetheless be enough to protect the market from the number of vessels soon to be delivered? It’s anyone’s guess at this point.
Analysts:
Mr. George Lazaridis | g.lazaridis@intermodal.gr
Ms. Eva Tzima | e.tzima@intermodal.gr
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 25 April 14
2ND MYANMAR ELECTRIC POWER CONVENTION 2014 IS THE GATEWAY TO MYANMAR POWER INDUSTRY!
Press Release: 2nd Myanmar Electric Power Convention (MEPC) 2014 is scheduled on 21-23 October, 2014 at Traders Hotel in Yangon, Myanmar. MEPC o ...
Friday, 25 April 14
DRY BULK MARKET LOOKING FOR NEW TRACTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market seems to have gained its footing after the past few dissapointing weeks, during which the Baltic Dry Index (BDI) shedded mos ...
Thursday, 24 April 14
HANDY : A FLOW OF FRESH REQUIREMENTS LIFTING THE PACIFIC SLOWLY TO US$ 10-11 K BSS SINGAPORE FOR COAL ROUNDS
Handy
There is still no place to hide in the Atlantic for the smaller but flexible sizes. Slow and weak seems to be the headlines, although th ...
Wednesday, 23 April 14
EUROPE WOULD BE HARD PRESSED TO REPLACE RUSSIAN GAS, FITCH RATINGS SAYS
A ban on Russian gas imports to the EU would cause substantial disruption to Europe's economy and industry, Fitch Ratings says. In the immed ...
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 ...
|
|
|
Showing 3736 to 3740 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- The University of Queensland
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
|
| |
| |
|
