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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, 07 January 15
FUEL EFFICIENT SHIPS MAKE LESS SENSE IN LOWER BUNKER PRICE MARKET, BUT FUEL COSTS ARE BOUND TO RISE AGAIN
The shipping industry entered 2015 on mixed emotions, as a relatively buoyant tanker market is met by a rather lackluster dry bulk market. Still, a ...
Tuesday, 06 January 15
SHIPPING MUST ADOPT CAN-DO ATTITUDE IN 2015 - MOORE STEPHENS
Shipping needs to adopt a can-do attitude in order to successfully meet the challenges which are likely to come its way in 2015.
Shipping part ...
Tuesday, 06 January 15
Q4' 15 FOB INDONESIA COAL SWAP CLOSED 1.81% HIGHER COMPARED TO Q1' 15 CLOSING
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 0.74 (-1.51%) m ...
Tuesday, 06 January 15
FOB RICHARDS BAY COAL SWAPS LOST W-O-W AND M-O-M, SGX DATA SHOWS
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 3.52 (-5. ...
Monday, 05 January 15
CFR SOUTH CHINA COAL SWAPS GAINED WEEK OVER WEEK, SGX DATA SHOWS
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 2.50 (-4.02%) month over month and gained US$ 0.20 ( ...
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- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- The University of Queensland
- White Energy Company Limited
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- India Bulls Power Limited - India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
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