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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, 23 May 14
U.S. WEEKLY COAL PRODUCTION SLIPS 1.8% WEEK ENDED MAY 17, 2014
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
Thursday, 22 May 14
HEAR SUCCESSFUL CASE STUDIES FROM 10 INDEPENDENT UNCONVENTIONAL GAS OPERATORS
Unconventional Gas Asia 2014 will provide a unique opportunity for Asia’s unconventional gas leaders to share their experience and expertise ...
Thursday, 22 May 14
CNPC-GAZPROM DEAL A MEDIUM - TERM POSITIVE FOR CHINA'S GAS SECTOR
Fitch Ratings says a 30-year deal in which Russia's OAO Gazprom (BBB/Negative) will supply gas to China National Petroleum Corporation (CNPC; A ...
Thursday, 22 May 14
CAPESIZE : RATES ARE STILL UNDER PRESSURE
Handy
A quiet start into the week in Far East, some fresh Indonesian coal order in the market. For trips within S.E. Asia, Supras are trading aro ...
Wednesday, 21 May 14
SHIPPING: MARKET INSIGHT - GEORGE LAZARIDIS
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 seabo ...
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- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Energy Development Corp, Philippines
- The University of Queensland
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Planning Commission, India
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
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