We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Friday, 19 September 14
PRICES FOR DRY BULK CARRIERS HAVEN'T CORRECTED ENOUGH, DESPITE LOWER THAN EXPECTED FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 A lot has been said and written about the looming dry bulk market recovery over the past few months. However, even if this hasn’t been materialized, at least not yet, prices for dry bulk carriers haven’t abated that much. According to the latest report from shipbroker Intermodal this is due to a number of reasons, namely the overabundance of financing, given the rapid emergence of private equity funds, as well as the sellers’ expectations.
According to Intermodal’s weekly report, “cince the onslaught of 2013 the rising tide of asset prices had been primarily driven by the increasing freight market conditions and the improving sentiment as to the future prospects of the Dry Bulk markets. Having put behind them the “lean” years of 2011 and 2012, owners were starting to feel more confident about the conditions they would face moving forward. Many saw a more balanced market were the ore reasonable delivery schedule of newbuildings (compared to that of 2012) would be met with the equal demand growth that they had been accustomed to during the period post the 2008 crisis”.
Intermodal’s Research Analyst, Mr. George Lazaridis noted that, “this was a fairly reasonable assumption as there seemed to be nothing in sight that could stop the insatiable appetite from the developing economies for further growth and higher consumption of raw materials. This all proved the more reasonable when just at the start of the final quarter of 2013 a major rally in the freight markets started to take place, bringing earnings to levels that were long forgotten”.
Yet, as he noted “this rosy picture painted by many in their mind was already breaking at the seams. The freight market started to plummet back down to the levels seen in early 2013 and whispers started to emerge of an imminent slowdown in growth by the dry bulk’s major driving economy, namely China. Yet this did not seem to have the strong impact many would have anticipated in the secondhand market. Prices continued to climb at an extraordinary rate peaking late April early May, despite the fact that a promise of a strong spring market never materialized. Yet even after this, the correction was only marginal”.
So why is there still such optimism amongst buyers? and more specifically why still for the larger Capesize vessels? These are the questions posed rightfully so by the shipbroker’s analyst. According to Mr. Lazaridis, “many may be still convinced that appetite will still be there going forward for both iron ore and coal by the world’s second largest economy. In all truth there may well be a new stimulus plan just around the corner and things may well get back on track with regards to demand. But it seems there is a more indirect cause at play here.
While the continual increase in asset prices may be seen as a reflection of a more bullish approach by investors, it seems to be more the excess of financing and the high price ideas held by the few available sellers in the market. With regards to the former, one must not forget that finance was not easily available during 2011-2012, especially for secondhand purchases and as a consequence the large influx of cash has made most buyers willing to splash out more in order to fuel their expansion plans. This will inevitably have some consequences going forward as most of this readily available cash comes at a much higher cost then what the traditional bank driven finance would have”, he noted.
Lazaridis concluded that “as to the side of the sellers, there are few out there willing to part with their assets at lower prices than they have been used to seeing over the past couple of months, and holding a more optimistic view themselves, they are only truly willing sellers at the currently prevailing prices. The question that holds is how long will this new price reality hold? And will freight rates eventually show the recovery all these prospective buyers are hoping for?”, he wondered.
Source: Nikos Roussanoglou, Hellenic Shipping News
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 10 October 14
INDONESIA TO DEVELOP DOWNSTREAM COAL INDUSTRY - JP
The government is planning to launch a program to develop the downstream coal industry to increase the commodity’s added value, an official h ...
Friday, 10 October 14
U.S. PRODUCED 83.2 MMST OF COAL IN SEPTEMBER, SAYS EIA
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.6 million short tons (mmst) of coal in ...
Thursday, 09 October 14
CAPESIZE MARKET HAS CONTINUED TO SHOW WEAKNESS - FEARNLEYS
Handy
We mentioned last week that after several weeks of rate increase for the Supras, the bigger Panamaxes started to snap up better paying Supr ...
Thursday, 09 October 14
SHIPPING REMAINS CHALLENGED AS GLOBAL GROWTH DISAPPOINTS - BIMCO
The global shipping industry finds no grace from much stronger economic activity going forward, as the global recovery remains fragile and uneven. ...
Wednesday, 08 October 14
CAPES RATE FOR THE W. AUSTRALIA TO CHINA VOYAGE MOVED TO BELOW $8/MT - INTERMODAL
The Dry Bulk market remained under pressure last week, with rates for Capes remaining on the red while those for Panamaxes managed to outperform th ...
|
|
|
Showing 3441 to 3445 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Australian Coal Association
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
|
| |
| |
|
