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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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Tuesday, 23 December 14
SHIPOWNERS ARE FINALIZING MORE DEALS AS YEAR END COMES CLOSER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS WORLDWIDE
With the 2014 year just a few days before waving goodbye, shipowners are looking to close their pending deals in both the newbuilding and S&P m ...
Monday, 22 December 14
Q2'15 CFR SOUTH CHINA COAL SWAP CLOSED $ 0.30 LOWER THAN Q1'15 CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3.67 (-5.81%) month over month and US$ 0.35 (-0.58%) ...
Monday, 22 December 14
API 5 FOB NEWCASTLE COAL SWAPS ARE HEADING SOUTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.71 per MT (-3.24%) and closed at US$ 51.02 on 19 December month ...
Sunday, 21 December 14
PANAMAX COAL FREIGHT FROM INDONESIA TO INDIA FALLS FURTHER
COALspot.com: The BDI continued its fall as cape index lost heavily week on week.
The BDI was down 6.95 percent week over week and closed at 8 ...
Friday, 19 December 14
HOW WILL LOWER BUNKER PRICES AFFECT THE SUBSTANTIAL OVERCAPACITY IN DRY BULK MARKET? - BIMCO
As bunker fuel costs have come down from USD 600 per tonnes to USD 330 per tonnes in the past 6 months, much talk about increased ship speed have s ...
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- Wilmar Investment Holdings
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Australian Coal Association
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
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