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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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Friday, 26 December 14
SHIPS FACE LOWER SULPHUR FUEL REQUIREMENTS IN EMISSION CONTROL AREAS FROM 1 JANUARY 2015 - IMO
Ships trading in designated emission control areas will have to use on board fuel oil with a sulphur content of no more than 0.10% from 1 January 2 ...
Wednesday, 24 December 14
CAPE DEMAND WAS STILL EXTREMELY SOFT THIS PAST WEEK ACROSS BOTH BASINS - INTERMODAL
COALspot.com: The performance of the Dry Bulk market, which found itself in desperate search of support for yet another week, has left very little ...
Wednesday, 24 December 14
MARKET INSIGHT - JOHN N. COTZIAS, INTERMODAL SNP BROKER
The year is coming to an end, and we should be able to assess if this was a good year, a bad year, or even a lousy one? The answer clearly de ...
Tuesday, 23 December 14
Q1'15 FOB INDONESIA COAL SWAP GAINED 48 CENTS IN ONE WEEK
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and gained week over week and day on day.
The Q1 swap has lo ...
Tuesday, 23 December 14
Q4'15 FOB RICHARDS BAY COAL SWAPS FALL $ 3.85 IN A MONTH
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month.
The Q1 swap has lost US$ 2.13 (-3.17%) month on month ...
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- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- London Commodity Brokers - England
- GMR Energy Limited - India
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
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