We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 16 April 14
Q1 2014 : TERMS OF FREIGHT RATES THE PERFORMANCE IN THE DRY BULK MARKET HAS NOT MET THE HIGH EXPECTATIONS - INTERMODAL
 This year the dates for the celebration of Easter will coincide for the Orthodox and the Catholic, so we are already seeing most people in the market getting into a more relaxed mood. Saying that, this could probably be the worst time to relax, especially if you are involved with the Dry Bulk market, as the latter has been losing ground constantly for the past three weeks.
Despite the negative performance, we are witnessing asset values remaining at much higher levels than compared to those of August 2013, the same period the BDI had last visited the 1,000 level mark. At the same time the average TC is either worse than what it was back then, as in the case of Capes and Panamaxes or just a tad better, as in the case of the smaller size segments. But even in the case of Supras and Handies that experience a slightly better freight market, the second hand values are way higher than what they were 8 months ago.
Let’s take the example of a seven year old Panamax, which was sold at around USD 18 mil back in August. The market for the same vessel today would be somewhere around USD 26 mil, while the average TC for the segment stands at around USD 6,500/day, when back in August it was around USD 7,500/day. During the past month, the number of sales candidates has increased a lot.
If someone takes a closer look, they can see that, with the exception of Japanese owned vessels maybe, the majority of sales candidates are vessels that were bought at very low levels sometime between 2012 and 2013, which means that their owners are hoping to lock a good profit from selling back their vessels. A number of fifteen year old Handymax vessels that were bought between USD8mil and USD 9mil in either 2012 or 2013, are currently in the market for a price tag of around USD 13.5mil, which undoubtedly is a great return.
Psychology, as always, is still playing a very important role for both buyers and sellers, while it is currently very difficult for anyone to make predictions, as the markets nowadays are influenced by many factors, some of which are not even explicit in the way they are linked to the shipping market. Under such circumstances, and with the freight rates being in a free fall during the past weeks, some potential buyers are more hesitant to go ahead with a purchase. At the same time, others believe that the bad performance of rates is only periodic and try to take advantage of a possible break down in the psychology of Sellers, who might have started feeling less confident than before, both because of the bad market but also due to the decreased number of potential buyers around, most of them having already made an acquisition during the past year.
So if we try to summarize the first quarter of 2014, we can say that in terms of freight rates the performance in the Dry Bulk market has not met the high expectations created following the mini rally at the end of last year, but at the same time there are a lot of people who firmly believe that the market will make a come-back in 2014 and freight rates will bounce back up. Evident of this optimism is the firm numbers still being achieved in the second-hand market even for older vessels, like in the case of the ‘ASIAN EXCELSIOR’ (45kdwt-blt96 Taiwan), which was very recently sold in excess of USD 11 mil.
So let’s hope that going forward the performance of freight market will follow that of the second-hand market, so that our industry gets a break and starts operating under healthier fundamentals and sustainable growth.
Happy Easter to Everyone!
Analysts:
Mr. George Lazaridis | g.lazaridis@intermodal.gr
Ms. Eva Tzima | e.tzima@intermodal.gr
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 26 March 14
LARGE AMOUNT OF VESSELS CHARTERED TO HAUL IRON ORE CARGOES TO CHINESE BUYERS THIS WEEK - COMMODORE RESEARCH & CONSULTANCY
COALspot.com: Through the first three days of this week, 18 dry bulk vessels have been chartered to haul spot iron ore cargoes to Chinese buyers ...
Wednesday, 26 March 14
JOIN IN THE CLEAN COAL CASE STUDY WITH SINOPEC!
Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12,13, 2014 in Beijing, China. We are glad to invite Experts ...
Tuesday, 25 March 14
INDONESIAN SUB-BITUMINOUS COAL SWAP FOR Q2 DELIVERY CLOSED $ 57.40 PMT W/E 21 MARCH 2014
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
Tuesday, 25 March 14
NEWCASTLE COAL EXPORTS JUMP 29.16% TO 2.79 MMT WEEK ON WEEK
COALspot.com: In the week ended 24 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2.79 ...
Monday, 24 March 14
SGX'S Q2'14 CFR SOUTH CHINA COAL SWAP CLOSES SLIGHTLY HIGHER W-O-W
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.81 percent month on month and closed at US$ 74.82 per mt as o ...
|
|
|
Showing 3781 to 3785 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- ASAPP Information Group - India
- White Energy Company Limited
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
|
| |
| |
|
