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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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Monday, 09 June 14
INDO SUB-BIT COAL SWAPS FOR Q3,Q4 OF 2014 AND Q1 2015: LOST ON DAY AND MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 continue last week’s trend or lost on day, week and on month according to Asia ...
Monday, 09 June 14
API 8 CFR SOUTH CHINA COAL SWAP Q3 14 DELIVERIES LOST 4.61% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 4.61 percent month on month and closed at US$ 71.62 per mt a ...
Sunday, 08 June 14
DRY BULK MARKET RATES FOR PANAMXES TO REMAIN VOLATILE; NO IMPROVEMENTS SEEN OVER THE WEEK
COALspot.com: Cape index increase pushes BDI index to 989 points week on week. The BDI firmed up by 5.88 pct and closed at 989 points week ended 6 ...
Saturday, 07 June 14
EVERYTHING CHANGES, AND NOTHING ABIDES - HERACLITUS
A couple of weeks ago, and while everyone was focusing on the struggling freight market, Russia and China made history by signing a three-decade lo ...
Saturday, 07 June 14
FIRST BITE AT ANTI-CORRUPTION CLAUSE - BIMCO
In recent years a number of countries have introduced anti-corruption legislation which, unfortunately, fails to recognise the practical implicatio ...
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- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- The University of Queensland
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
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