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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, 12 June 14
HANDY : TA MARKET IS CONTINUING SOUTH WITH A DECREASE OF 26% W-O-W
Handy
The week started off with holidays in most European countries and the TA market is continuing south with a decrease of 26% w-o-w. We do see ...
Thursday, 12 June 14
CONSOLIDATION IS THE ' NAME OF THE GAME' WHEN IT COMES TO SHIPYARDS ACROSS ASIA - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Intense competition, a swelling of new greenfield shipyards over the past few years mainly in China, especially prior to the 2008 global financial ...
Wednesday, 11 June 14
INDONESIA'S COAL EXPORT VOLUME AND REVENUE SLIPS 2.75% AND 6.73% RESPECTIVELY IN APRIL
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.8* b ...
Wednesday, 11 June 14
BPI TOUCHING A NEW LOW FOR THE YEAR
The Dry Bulk market closed off the week positively, on the back of firming Capesize rates, while the market overall continues to face a very challe ...
Monday, 09 June 14
GOVT GETS TOUGH ON ILLEGAL MINING, SUSPENDS LICENSES - THE JAKARTA POST
The government has temporarily suspended the licenses of 62 mineral and coal transportation companies as part of its efforts to curb illegal mining ...
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- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Australian Coal Association
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Planning Commission, India
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
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