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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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Wednesday, 14 January 15
DRY BULK MARKET NOTED ANOTHER WEEKLY DECLINE - INTERMODAL
COALspot.com: The Dry bulk market noted another weekly decline on Friday, with the performance of the Capesize market still weighing down on the re ...
Wednesday, 14 January 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
In Oil we trust! The Barrel price has declined by almost a third in comparison to the 2014 January and has being on the downhill since early last s ...
Wednesday, 14 January 15
COMMODITIES AREN'T PRIMED FOR A REBOUND DURING 2015: SHIPPING COULD BENEFIT FROM LOWER PRICES - ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In the recent past, higher commodity prices were driven by an increase in demand from developing countries, which spelled good news for ship owners ...
Wednesday, 14 January 15
SUB-BIT FOB INDONESIA COAL SWAP FOR Q1 DELIVERY CLOSED AT US$ 46.97 PMT
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 declined month on month and week over week.
The Q1 swap has fell US$ 1.53 (-3.15 ...
Wednesday, 14 January 15
Q4' 15 FOB NEWCASTLE COAL SWAP CLOSED 4.51% LOWER COMPARED TO Q1' 15 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.56 per MT (-3.0%) month over month and US$ 1.03 (-2.0%) week ove ...
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- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Planning Commission, India
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- PTC India Limited - India
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
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