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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, 05 January 15
FIVE ENERGY SURPRISES FOR 2015: THE POSSIBLE AND THE IMPROBABLE - KURT COBB
The coming year is likely to be as full of surprises in the field of energy as 2014 was. We just don't know which surprises! I am not predictin ...
Monday, 05 January 15
THE SHIPPING MARKET IN 2014 AND LOOKING FORWARD - BIMCO
2014 started with plenty of optimism for a considerably better global economy and an improved shipping market. Things turned out somewhat different ...
Monday, 05 January 15
API 5 FOB NEWCASTLE COAL SWAP FOR Q1'15 DELIVERY CLOSED US$ 0.45 HIGHER COMPARED TO Q2'15 CLOSING
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 0.60 per MT (-1.15%) month over month and gained US$ 0.02 (+0.04%) ...
Sunday, 04 January 15
BALTIC DRY INDEX CONTINUES ITS DECLINE IN 2015
Wish you all a very Happy New Year 2015. The last report was dated 19th Dec 2014 and due to Christmas and new year holidays no reports were publish ...
Saturday, 03 January 15
U.S WEEKLY COAL PRODUCTION FELL 11.2% TO 17.6 MMST WEEK OVER WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.6 million short tons (mmst) of coal ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- White Energy Company Limited
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
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