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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, 14 May 14
COAL PRICES IN CHINA HAVE DROPPED TO THEIR LOWEST LEVELS SINCE END-2008
COALspot.com: Coal prices in China have dropped to their lowest levels since end-2008, Fitch says in its latest rating report on one of the coal ...
Wednesday, 14 May 14
ALMOST THROUGH THE HALF OF THE YEAR, THE DRY BULK INDEX SHOW SIGNS OF WEAKNESS; CREATING TO BOTH EXISTING SHIP OWNERS AND POTENTIAL INVESTORS A LOT OF INSECURITY - PANOS MAKRINOS
Almost through the half of the year, the overall shipping market and more specifically the Dry Bulk Index show signs of weakness, creating to bo ...
Tuesday, 13 May 14
NPC COAL EXPORT VOLUMES PLUNGE TO 2.48 MMT WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 12 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Quee ...
Tuesday, 13 May 14
YET ANOTHER POSIDONIA EXHIBITION IS ON ITS WAY - INTERMODAL
With less than a month to go before another Posidonia exhibition starts and all the parties and celebrations get under way we thought that it wo ...
Monday, 12 May 14
TAIPOWER TO IMPORT AROUND 1 MMT OF SUB-BITUMINOUS COAL DURING AUGUST 2014 THROUGH NOVEMBER 2014
COALspot.com - Taiwan Power Company intends to procure 1.050 million tons of sub-bituminous coal for Taipower thermal power plant through open t ...
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- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- MS Steel International - UAE
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- The University of Queensland
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
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