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Friday, 23 May 14
DRY BULK NEWBUILDING CANCELLATIONS COULD HELP SUPPORT MARKET IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The dry bulk market's demise over the past few months maybe has come as a surprise to many, but analysts and shipbrokers are looking forward to the coming months with more optimism, mainly as a result of improving conditions in terms of tonnage supply. According to the latest weekly report from shipbroker Intermodal, "things have started to look brighter for several of the OECD countries, with both Europe and the U.S. seeing an increase in their respective growth forecasts. For the latter, many are expecting an improvement over the second half of the year, as the ample cash flow and improved demand should eventually boost their imports significantly. These are more likely to effect the tanker and more importantly container markets and should give both these a boost. It doesn’t just stop there though".
According to Mr. George Lazaridis, Research Analyst with Intermodal, "there is still ample seaborne trade to be seen this year and as the fleet growth has now been limited, shipping markets should be able to perform better then what they had 2-3 years back. In the dry bulk market we have seen 240 newbuildings delivered up until now, while from the remaining 584 vessels scheduled for 2014, a significant number are likely to either be delayed or even cancelled.
It is important to note here that even during 2013 and while the market was on a more optimistic tone, the combined slippage and cancellation rate was 36.5%, while during 2014, 58 newbuildings have already either been re-scheduled for post 2014 or cancelled. Similarly, in the Tanker sector deliveries for this year are mild in contrast to past years. What’s more is that the Tanker sector also holds much better trade prospects for the remainder of the year and this could lead to a better year in terms of earnings", he noted.
In an attempt to explain the lacklustre performance of the shipping markets during the first few months of 2014, Mr. Lazaridis noted that "the recent revision by the OECD of its global growth forecast has sparked a debate as to the potential outcome these new figures will have on seaborne trade. The main concern has been the slower expansion of China and other emerging markets. These markets have been the prime movers of trade over the past decade and as we witnessed over the past months, things are starting to become a tighter in terms of activity of bulk commodities.
The most important factor has been the crackdown on lending by the Chinese, which in turn prompted many organizations to revise their forecasts on Chinese GDP this year from a previous prediction of 8.2 percent, down to 7.4 percent. At the same time, many are confident that should there be a sharp slowdown in economic activity, the People’s Bank of China will step in and ease some of its monetary policies. Nevertheless, we have already seen these lending restrictions take effect on certain trades, with even difficulties in issuing letters of credit by some traders cutting down their import volumes", he said.
Mr. Lazaridis added that "the dry bulk market has felt the main brunt of these new trends, with the spring season being more limited in cargoes than usual and rates having taken a sharp turn for the worst through most of the past months. This has caused many to revise their ideas as to the overall freight market performance for 2014 and has even brought a halt in the previously peaking SnP activity, pushing for a correction in asset prices. Early May has seen an average of 3% drop in dry bulk asset prices compared to where they stood at the end of April and as many potential buyers are waiting for further corrections, this downturn could easily continue at least up until the first half of the summer".
Concluding, he noted that "all this could possibly see for a higher investment interest especially come September were we typically start to see a firmer freight market in the Dry Bulk, Tanker and Container markets. It looks as now it’s a bit of a “wait and see” game and as the clouds of uncertainty clear out we should end up with a clearer picture as to where the market is going".
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 11 July 14
UNITED STATE'S MONTHLY COAL OUTPUT FALLS 5.53% IN JUNE
COALspot.com – United States the world's second largest coal producer, produced approximately 18.1 million short tons (mmst) of coal in a ...
Thursday, 10 July 14
SGX EXPANDS ACROSS THE BULKS WITH NEW COAL PRODUCTS
COALspot.com: Singapore Exchange (SGX) is expanding its bulk commodity derivatives offering by launching new coking and thermal coal products on 4 ...
Thursday, 10 July 14
HANDY: SMALL INCREASE; PANAMAX: POSITIVE TONE; CAPESIZE: PAPER VALUES REMAIN WEEK
Handy
It is a general increase in activity in both hemispheres whereas rates have just experienced a small increase. In the Feast we see stable a ...
Wednesday, 09 July 14
SHIP INVESTMENTS ARE TRENDING LOWER
Most ship owners are deeming current ship prices on the high side, refraining from making serious commitments in new acquisitions or newbuilding or ...
Wednesday, 09 July 14
INDIAN GOVERNMENT ADVISED POWER UTILITIES TO INCREASE COAL IMPORTS
COALspot.com: The government of India has advised power utilities to increase coal imports to meet fuel shortages and those that have fuel supply p ...
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- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- PTC India Limited - India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- White Energy Company Limited
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
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