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Wednesday, 05 August 15
DRY BULKER PRICES START TO FIRM UP AS MARKET SENTIMENT IMPROVES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Market pessimism in the dry bulk industry, a trend which had established itself over the course of the year, has started to fade away over the past couple of weeks. According to a recent report from shipbroker Allied Shipbroking, “in part, this has been due to things seemingly looking calmer on the geopolitical stage then they did several weeks back, yet this has played a relatively small and unimportant part in the grand scheme of the global dry bulk trade. Over the course of the last couple of weeks we have seen the freight market slowly finding its foothold, and gaining ground well above the lackluster levels it was receiving several weeks back”.
According to Mr. George Lazaridis, Head of Market Research & Asset Valuations with Allied, “this is not to say that there has been a complete reversal and that we are now finding ourselves in the midst of a bull market, yet it has been enough to inspire optimism amongst many in the market”. Mr Lazaridis noted that “during the first half of the year the intense rebalancing act of the fleet which has served as a purpose in keeping its growth rate in check and in line with the new “status quo” of global economic development has started to “bear fruit”. With the number of vessels available and trading in the market being held at a stead number, seasonal spikes in demand have emerged right in time to give a strong boost to freight rates that had been lingering for too long around or even below OPEX levels”.
Of course, “one might say that seasonality will fade and you will once again be left with a fleet which is much larger than required, yet in reality this seasonality has helped us buy some time as the growth in trade slowly creeps at its slower pace increasing demand to the extent that it be-comes in balance and at some point might even surpass tonnage supply once again (this all depending on if we can keep the fleet growth at a lower rate than growth in trade)”, Lazaridis noted.
He added that “all this having been mentioned before, what strikes of interest now is the way the sale and purchase market in the dry bulk segment has started to react to all of this. For over a month now we have seen prices hold at a level which they were unable to break below, partially due to the fact that there was also strong resistance in the newbuilding market and strong resistance from sellers themselves. With a significant amount of the downward pressure having been alleviate (as earnings are now at much healthier levels and many in the market are starting to hold the belief that we have passed the worst of the storm) the amount of buyer looking to buy at bargain levels has not only risen but has also started to get itchy fingers and become a bit more “trigger-happy” (as if they are in some sort of wild west movie)”.
According to Allied’s analysis, “this has started to become more so the case for some of the modern units especially in the Kamsarmax and Ultramax sectors, both of which are expected to feed of much better over the coming years from the increasing trade from India. In terms of reported transactions, we have yet to see this “eagerness” reflected in pricing. There has been however a stronger demand then what had been seen over previous months and buyers are now looking to be considerably more eager to compete for units that they inspect. This in turn, if supported by the market, should start to emerge in transactions that we will be seeing come to light towards the end of August to early September, however as is always the case and nevertheless if it hap-pens now or further down the line, buyers seeing the emergence of this trend will feel that they might have “missed the market” and depending on the number of buyers that feel the same, we would likely see another round of price hikes self-fed by new rounds of buying interest and over eagerness to compete. Let’s hope this time around some will a higher degree of self-refrain before prices have overshot once again”, Lazaridis concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 14 August 15
CONDITIONS AND COMPLEXITIES IN A TRIPARTITE AGREEMENT: BE SPECIFIC! - INCE & CO
KNOWLEDGE TO ELEVATE
A tripartite agreement reached between the Owners, the Shippers and the Receivers provided that demurrage be paid to the ...
Thursday, 13 August 15
THE RATES FOR CAPES KEPT RALLYING LAST WEEK - INTERMODAL
COALspot.com: Strong Capesize performance kept supporting the Dry Bulk market last week, which noted another positive weekly closing, while rates f ...
Thursday, 13 August 15
FOB RICHARDS BAY COAL SWAPS CONTINUE FALLING
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
Wednesday, 12 August 15
DRY BULK MARKET: WITHOUT A DOUBT REACHED HEALTHIER LEVEL
A few weeks before the end of the summer season, the BDI is hovering around 1,200 points, providing some much needed optimism to all Dry Bulk marke ...
Wednesday, 12 August 15
REGULATION CURBS POWER OF LOCAL AUTHORITIES IN MINING SECTOR IN INDONESIA - FLORENCE G. SANTOSO
The Indonesian Government appears to be getting serious about stripping Regents of the authority to issue mining licenses. The Government took the ...
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- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- The University of Queensland
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Anglo American - United Kingdom
- VISA Power Limited - India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
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