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.
|
|
Thursday, 18 September 14
INDONESIA'S JULY COAL EXPORT VOLUME DROPPED 5.13% M-O-M
COALspot.com: Indonesia, one of the world's largest coal producer and the global leading multi grade coal exporter shipped around $1.65* ...
Thursday, 18 September 14
PANAMAX : US GULF/CHINA FRONTHAUL ARE NOW PAYING TYPICALLY 14.5K + 450K BB - FEARNRESEARCH
Handy
We still see a firming tendency in the Atlantic and it is still ECSA and USG leading on. USG/Cont now up in about USD 17/18k for a Smax whi ...
Thursday, 18 September 14
ELECTRONIC BILLS OF LADING: A GUIDE TO PAPERLESS TRADING WHICH HAS TAKEN THE SHIPPING INDUSTRY BY STORM
Bimco has recently developed and published a charter party clause that specifically addresses the use of electronic bills of lading. Increasing use ...
Wednesday, 17 September 14
PANAMAX: LIMITED INTEREST IN BOTH BASINS; RISING TONNAGE - INTERMODAL
With the week starting off at a fast pace and with the positive momentum from the previous Friday seemingly sticking around for a bit longer, most ...
Wednesday, 17 September 14
SHIPPING MARKET INSIGHT - GEORGE LAZARIDIS
Since the onslaught of 2013 the rising tide of asset prices had been primarily driven by the increasing freight market conditions and the improving ...
|
|
|
Showing 3481 to 3485 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
|
| |
| |
|
