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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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Thursday, 01 January 15
FOB RICHARDS BAY COAL SWAPS CLOSED AT $63.47 PMT ON 26 DEC, SGX DATA SHOWS
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 3.37 (-4. ...
Wednesday, 31 December 14
COASTAL ENERGEN (C&O) COMMENCES 1ST UNIT OF 1200 MW POWER PLANT IN INDIA
COALspot.com: Coastal Energen, part of the Coal & Oil Group, announced last week the commissioning and commencement of power production at the ...
Wednesday, 31 December 14
SUB-BIT INDONESIA COAL Q2' 15 DELIVERY SWAP CLOSED 1.03% LOWER COMPARED TO AVERAGE Q1' 15 DELIVERY PRICE - SGX
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and gained week over week.
The Q1 swap has lost US$ 1.35 (-2 ...
Tuesday, 30 December 14
SHIP PRICES KEEP ON FALLING, SALES COME EARLY FOR SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship prices keep on falling on the back of low freight rates. According to the latest report from shipbroker Allied Shipbroking, January sales seem ...
Tuesday, 30 December 14
INDIA INC TO BENEFIT AS IMPORTED COAL PRICES SET TO FALL - RAHUL PRITHIANI
The Hindu: India‘s coal import volumes are set to rise by over 30 per cent over the next two years to 214 million tonnes in 2015-16, as domes ...
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- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- The University of Queensland
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Parliament of New Zealand
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
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