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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, 12 January 15
SHIPPING - CHALLENGES AND RESOLUTIONS - EVA TZIMA
Last year has without a doubt been another challenging one both for both our industry and our country. As Greece is currently dominated by election ...
Sunday, 11 January 15
BDI DECLINED 8% ON WEEK; BCI LOST 31%
COALspot.com: The BDI continued its decline in the first week of this year or lost 8 pct week over week. The BDI was closed at 709 points whi ...
Friday, 09 January 15
U.S. EASTERN SPOT STEAM COAL PRICES FELL IN 2014; ROSE IN WEST - EIA
U.S. Eastern spot steam coal prices declined in 2014 compared to 2013 levels because of a decline in steam coal exports.
According to U.S. Ene ...
Friday, 09 January 15
WEEKLY U.S. COAL PRODUCTION UP AN ESTIMATED 2.2% Y-O-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.6 million short tons (mmst) of coal ...
Thursday, 08 January 15
INDONESIA PRESSES ON WITH HIGHER COAL ROYALTY FEE TO BOOST STATE REVENUE - JG
The Indonesian government is pressing on with its plan to raise the royalty charged to coal miners in order to increase state revenue, but the move ...
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- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
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