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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, 12 May 14
DRY BULK MARKET IS STILL STRUGGLING TO FIND FIRM FOOTING
COALspot.com: The freight market continued to be weak and the BDI closed slightly lower at 997 points or fell 1.96 pct week on week. The cape in ...
Friday, 09 May 14
RBCT SHIPPED 5.4 MMT OF COAL IN APRIL
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest coal export terminal in the world, shipped 5.45 million to ...
Friday, 09 May 14
DRY BULK MARKET: BANKRUPTCY TONNAGE UNLEASHED
Drewry’s latest Dry Bulk Forecaster saw freight rates on most routes declined in 2014’s first quarter as the previous quarter’ ...
Friday, 09 May 14
UNITED STATES COAL PRODUCTION SLIGHTLY SLIDES TO 82.4 MMST IN APRIL
COALspot.com – United States the world's second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal i ...
Thursday, 08 May 14
'TRIAL BY MEDIA, TRIAL BY LAW' - A REPORT FROM TRACK 1 OF BIMCO'S ANNUAL CONFERENCE DUBAI 2014
KNOWLEDGE TO ELEVATE
Aiming to bring a very different type of event into their annual conference, BIMCO presented ‘Double Jeopardy &n ...
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- Australian Coal Association
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- The University of Queensland
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
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