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Wednesday, 07 January 15
2015 IS RIDDLED WITH CHALLENGES FOR THE SHIPPING SECTOR, MOST NOTABLY THE DRY BULK MARKET - HELLENIC SHIPPING NEWS
 As the new year has now set foot for real, many are still looking to detect what’s in store for the various shipping markets, with the first quarter of the year been the “compass” which will point towards this year’s direction in shipping. According to the latest weekly report from shipbroker Allied Shipbroking, “with the dry bulk market having started off the year on a fairly negative note there are some that see it as setting the tone of what we are set to see during the next 12 months. Though taking a look at the composite leading indicators for both China and India as well as the recent pick up in interest for iron ore we might be seeing an improvement in the works”.
Allied’s George Lazaridis, Head of Market Research & Asset Valuations, “there are however great fears to overcome this year before we can see better days. The recent economic crisis in Russia caused by the crippling sanctions brought about from the West and the drastic drop in oil prices (energy accounts for 25% of Russia’s gross domestic product – GDP) creates woes of global trade imbalance. At the same time worries have resurfaced regarding the stability and growth potential of the Euro-zone, as many voice concerns of a potential Greek exit from the Eurozone after the upcoming elections. Further to this, some of the largest economies, such as China, Japan and Germany, as well as several emerging markets have to tackle a slowdown in economic growth. This is all set to take place on the back drop of a fairly strong growth in the carrying capacity of the dry bulk fleet and it’s the dry bulk fleet that is most under threat now”.
According to the shipbroker, “most of the above mentioned will be fairly cleared out within the first two months of the year, while at the same time we should start to be able to get a better idea as to the direction the market will take. The hopes are for a stronger global GDP growth, with forecasts pointing to a 2.9% increase this year compared to 2.5% estimated to have been seen in 2014. This is mainly to be driven by the more bullish U.S. economy as well as an overall benefit that is expected to be seen if the current low oil prices persist. With regards to the latter the IMF has pointed to an increase of up to 0.7% in global economic activity which will be accounted by the lower energy prices. Further to this, the fact that most commodity prices have weakened considerably in the second half of 2014, means that overall costs have weakened, while these lower prices will allow for a continuation of the current low interest rate policies”.
Lazaridis added that “the current fog of uncertainty is likely to clear out after the Chinese New Year in mid-February. If the outcome is positive, we should see a spark of buying interest as prices will be ripe for the picking. If things turn for the worst then we might be set for a very difficult year, hopefully allowing for a clear out of some of the excesses that had been made in the past. In any case it looks as though 2015 will be giving truth to the phrase “the night is darkest just before the dawn”, or so we would like to hope”, he concluded.
Meanwhile, in the newbuilding market over these past couple of weeks, Allied said that “with 2014 having closed off at a fairly poor note and everyone worry-ing of even tougher market conditions to follow in the first half of 2015, many shipbuilders have already lowered their targets for the year, while we are likely to see a more aggressive marketing approach in an effort to steal some interest from the secondhand market. The way prices are holding right now this seems fairly difficult as it is hard to convince buyers to pay out such a premium the way the market is currently moving. At the same time, difficulties in terms of financing are likely to continue on in 2015, with particular difficulties to be seen as to the issuance of refund guarantees. As things stand now. S. Kore-an shipbuilders are better placed having put considerable focus on the tanker market as well as other niche markets which have been performing better in terms of earnings. In terms, of rumored deals, S. Korea’s Daewoo Shipbuilding has se-cured an order for 2 ice class LNG (172,000cbm) carriers for a price of US$ 317.0m each with delivery between 2017 and 2019″.
Finally, in the market for secondhand vessels, “further price drops have been noted in the Dry Bulk sector despite the limited activity which has taken place. Buyers have preferred to stay in the sidelines waiting for things to soften further, while many hope to see prices reach closer to the levels seen in early 2013. Interms of reported deals the Handysize “LEYDEN” (28k, 1995, Japan) was picked up for a price of US$ 5.1m. Things have been more bullish in the tanker sector, were the very promising performance in the freight market has rekindled interest by many buyers especially for the larger crude carriers. It is noteworthy to mention the fleet purchase by Genmar of 14 VLCC resales at a total enbloc price US$ 1.4bn”, Allied concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News Worldwide
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Monday, 19 January 15
FOB RICHARDS BAY COAL SWAP FOR Q4 DELIVERY CLOSED 4% LOWER THAN Q1 DELIVERY PRICE
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and week over week.
The Q1 swap has f ...
Sunday, 18 January 15
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO REMAIN WEAK NEXT WEEK
COALspot.com: The BDI was up 4.51 pct week on week on Friday 16, January 2015. The BDI closed at 741 points on this Friday after gaining arou ...
Friday, 16 January 15
U.S. WEEKLY COAL PRODUCTION UP 7.3% W-O-W
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
Thursday, 15 January 15
PANAMAX : MARKET CONTINUE ON LOW PACE - FEARNLEYS
Handy
On a general basis we can say that rates are softening in both hemispheres. Although for some specific trades we can see premiums being ach ...
Thursday, 15 January 15
LOW CASH COSTS, GOOD LIQUIDITY HELP ASIAN OIL COMPANIES IN PRICE ROUT - FITCH
Fitch Ratings says that rated oil and gas production companies in Asia can comfortably operate under low oil prices for some time given their gener ...
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- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- The University of Queensland
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- GMR Energy Limited - India
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Economic Council, Georgia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- PTC India Limited - India
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