We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 16 July 14
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
 Wake me up when September ends - Theodore Ntalakos
Since last September most thought that the worst was behind us. It looks like the market decided once again to contradict everybody and show it's unpredictable nature. Opinions for recovery in the second half of 2014 are now challenged and some are already extending their predictions for recovery to the final quarter. Once again we see demand for seabourne trade not being enough to maximize utilization of the current fleet. China's economy, a decisive factor of dry bulk ship utilization, is slowing down and its iron ore and coal stockpiles remain high.
On the other hand although suppressed, there are substantiated views that the market will turn and whilst the BPI is around September 2012 lows, we see buying interest in modern bulk carriers, from at least a handful of buyers, trying to take advantage of the depressed market. The asset prices are definitely correcting but sellers are not really prepared to meet buyers' aiming levels just yet. Only if the market conditions remain where they are now will we see some sellers reconsider.
A falling market nevertheless, always offers great opportunities and in fact some of the best buys are done during the summer sloth. On the supply side, over the past year, we have recorded a net growth of the fleet of about 370 vessels; this is a 4% increase which in my view is not what has killed the market. However, the rationalization of the orderbook did not last for too long. The orderbook has increased from about 1,400 vessels, representing 16% of the trading fleet, this time last year, to 1,734 vessels this year representing 20% of the dry fleet.
Over-ordering of ultramax size bulk carriers has been lengthily discussed and criticized, and it's a fact that from 388 vessels in June 2013 we now have 682 on order which is a 76% increase! Although not all of them will be materialized, it will no doubt put a lot of pressure in the supramax and the panamax markets going forward. The silver-lining is that while it’s no more than two years since the panamax orderbook also stood at more than 650 vessels, the freight market still managed to improve in 2013 showing that solid demand can somewhat support a little extravagance in ordering.
The panamax fleet has increased by a little more than 130 vessels or 7% following a record of deliveries in 2013. The orderbook of panamax up-to post-panamax size has actually declined from 382 vessels on order to 342 vessels (down from 650 two years ago). We feel that, once the first new generation vessels start trading showing their economic characteristics, the next shipbuilding orders will be in this size which lagged behind in the vessel ordering spree of 2013.
The Handysize fleet has grown by only 17 vessels the past year. The orderbook today represents a healthy 18% of the fleet, and has decreased since the beginning of 2014. There are many new and proven designs from 35,000 up to 43,000 tons deadweight offered by the builders these days and the sector has demonstrated a relative stability compared to the volatile bigger sizes. It remains attractive as a sector due to its low volatility but there is skepticism if the investment will ever provide lucrative returns.
As a result of the orderbook and the market conditions, new building inquiries are limited.
Buyers are waiting for the prices to follow the market and are currently only discussing with the very few shipyards that offer prices below the market. However, with most of the reputable shipbuilders offering their last 2016, or in some cases 2017 slots, there is no rush to follow the market; therefore, it will take some time for the prices to return to more attractive levels.
By Theodore Ntalakos - SnP Broker
Analysts:
Mr. George Lazaridis
Ms. Eva Tzima
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.
|
|
Friday, 08 August 14
CAPESIZE RATES ARE REMAINING MORE OR LESS UNCHANGED AT BOTTOM LOW LEVELS - FEARNLEYS AS
Handy
An improving sentiment with stronger rates and fair demand for prompt tonnage in the Atlantic, both on the Continent and in the Med for the ...
Friday, 08 August 14
U.S PRODUCED 35.80 MMST OF COAL IN JULY; UP 7.89 MONTH OVER MONTH
COALspot.com – United States the world's second largest coal producer, produced approximately 19.50 million short tons (mmst) of coal in ...
Friday, 08 August 14
PORT OF NEWCASTLE SHIPPED 19.52% MORE COAL IN JULY FROM LAST MONTH
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped 14,036,947 t ...
Thursday, 07 August 14
SHORT-TERM COAL OUTLOOK IMPROVES - SAM QUEST
With demand for and supply of coal to grow in the near future, prices are expected to rebound in the short term; the long-term prospects, however, ...
Thursday, 07 August 14
BULKING UP IN AFRICA: CHINA INFLATES SEABORNE MINERALS EXPORT TRADE - RICHARD SCOTT
Africa’s profile as an exporter of dry bulk commodities is rising. Responding to growing import demand from China, India and other buyers in ...
|
|
|
Showing 3556 to 3560 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
|
| |
| |
|
