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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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Wednesday, 02 July 14
THE PANAMAX MARKET CONTINUED TO BLEED FOR ANOTHER WEEK - INTERMODAL
COALspot.com: The Dry Bulk market succumbed to mounting pressure this past week, while the Capesize market proved unable to “save the day&rdq ...
Wednesday, 02 July 14
HANDY BULKERS PROVE TO BE THE MOST SOUGHT AFTER VESSELS OVER THE PAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The Handy dry bulker proved to be the most sought after ship by ship owners active in the second hand market, which saw a slight decline in terms o ...
Wednesday, 02 July 14
SHIPPING: MARKET INSIGHT - GEORGE DERMATIS
After 6 months, 57 ministerial meetings and 67 political agreements, the journey of the Greek Presidency in the EU reached its end yesterday; only ...
Tuesday, 01 July 14
INDIAN POWER PLANT COAL STOCKPILES VERY LOW
COALspot.com: According to today's Weekly Dry Bulk Report published by Commodore Research, Indian power plant coal stockpiles have now fallen t ...
Monday, 30 June 14
SUB-BIT FOB INDONESIA COAL PRICES ARE STILL STRUGGLING TO RECOVER
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on week and on month according to AsiaClear OTC coal swap's reports release ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Australian Coal Association
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- The University of Queensland
- Marubeni Corporation - India
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Independent Power Producers Association of India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
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