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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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Thursday, 26 June 14
COAL DIVESTMENT CAMPAIGNS COME WITH RISKY UNINTENDED CONSEQUENCES - WCA
Last week I presented to the Expert Group on investments in coal and petroleum companies, the body set up to advise the Norwegian Government on whe ...
Wednesday, 25 June 14
INDONESIAN COAL EXPORTS ON RISE; EARNINGS FALL ON LOWER SELLING PRICES
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.84* ...
Wednesday, 25 June 14
THE PANAMAX MARKET REACHED FRESH LOWS FOR THE YEAR, SAYS INTERMODAL
COALspot.com: The Dry Bulk market closed off the week noting a slight decrease, but this image of stability is merely representative of freight rat ...
Wednesday, 25 June 14
SHIPPING: MARKET INSIGHT - YANNIS OLZIERSKY
During his recent visit in London, China's Premier, Li Keqiang, announced that China's economy, the world's second largest after the US ...
Tuesday, 24 June 14
INDONESIAN COAL MINER TARGETS RP 313 BILLION IPO
COALspot.com: Indonesian coal miner PT Mitrabara Adiperdana is aiming to raise up to Rp 313 billion to Rp 368 billion (approximately $26.133 millio ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Aditya Birla Group - India
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
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