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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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Sunday, 12 July 15
SHIPYARD NOT LIABLE FOR ENGINE ROOM FIRE CAUSED BY OIL LEAKAGE - BIRCH WINDAHL
KNOWLEDGE TO ELEVATE
A Danish vessel owner requested a Danish shipyard to undertake repairs and maintenance works on its vessel. An agreement ...
Saturday, 11 July 15
MAJOR IRANIAN GAS EXPORTS WILL TAKE AT LEAST FIVE YEARS - FITCH
Iran has the long-term potential to become one of the world's top gas producers, thanks to its 34 trillion cubic meters (tcm) of natural gas re ...
Friday, 10 July 15
DRY BULK MARKET KEEPS POSITIVE MOMENTUM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its positive momentum over the course of the past few days, thanks to Panamax gains. During yesterday’s session ...
Friday, 10 July 15
U.S PRODUCED APPROXIMATELY TOTALED AN ESTIMATED 14.1 MMST WEEK OVER WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 14.1 million short ...
Thursday, 09 July 15
CPP MARKET : POSITIVE IN THE SHORT TERM - GEORGE VASTARDIS
Despite the traditionally quieter summer period, the clean tanker market has so far experienced healthy activity especially East of Suez. Increased ...
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- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Siam City Cement - Thailand
- White Energy Company Limited
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Planning Commission, India
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Videocon Industries ltd - India
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