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Wednesday, 13 August 14
WEEKLY MARKET INSIGHT - KONSTANTINOS KONTOMICHIS SNP BROKER
 Being at the peak of the holiday season, August is, as usual, the quietest month in terms of snp transactions, yet it is also a time very critical for the forthcoming quarter, as the market seeks signs for the direction of asset prices. The future prospects of the snp market is currently tangled between uncertainty in both global economic conditions and geopolitics, which affect market psychology and actual trade at the same time.
Despite the fact that freight rates in the dry sector have been depressingly low during the past months, the decrease in asset prices has not been equally strong. This is because during the past six years Sellers have been trained to acknowledge volatility incurred during the smaller shipping circles and to resist in reducing their price ideas, as they wait for the recovery of the freight market in September.
As far as older tonnage is concerned, we experience a correction in values of 90's blt vessels. However, the firm demolition prices, which in India, Bangladesh and Pakistan are still at US$ high 400's per long ton, block a further correction in asset values since the “scrap age” of a vessel is being approached faster this way.
On the new-building market, a big number of shipyards are sitting on a significant order-book and currently don’t appear willing to proceed to heavy price discounts. Resale prices are perhaps a bit more elastic than new-building ones, and although they have dropped from the high levels reached ear-lier in 2014, they are still fairly stable compared to rest of the market. A representative recent example is that of a 61,000dwt Imabari Blt 2015, which was sold at usd 31.4 mill. Most notably though, the premium required for prompt deliveries is thinning due to the poor freight market.
Having discussed what is going on the resale and vintage tonnage, which are heavily dependent upon new-building and scrap prices, it is interesting to see what is happening to the "middle-aged" tonnage. The post 2000's blt ships are significantly exposed to the freight market, as new-building and scrap prices are not a critical factor in their value. Two notable snp transactions to be mentioned in the handysize market are the recent sale of M/V Atlantic Arrow (Abt 28,000dwt 2005 Blt Japan) which went for US$ 12.1m and that of the M/V Cielo Di Genova (Abt 32,300dwt / 2005 Blt Japan) which was snapped, considerably higher, for Usd 16,5 mill last December.
In the more volatile sector of Panamax, prices presented the higher correction. The M/V Ocean Lily (Abt 76,500dwt / 2006 Blt Japan) was sold in March this year at region Usd 25 mill, while the M/V Yusho Spica (Abt 76,000 dwt / 2006 Blt Japan) was sold for around Usd 20 mill 3 months later. The M/V Michele D'Amato (Abt 76.000 / 2005 Blt Japan) and the M/V Lowlands Nello were reported sold last week for USD 17.7mill and 17.2 mill respectively.
The level where the next comparable sale will be fixed, which will probably be the fresh market candidate M/V Golden Kiji (Abt 76,500dwt / 2007 Blt Japan), will be significant in terms of where the market is heading next, so remain seated with your seatbelt fastened as there might be a few more bumps ahead.
Compiled by:
Intermodal Research & Valuations
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.
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Wednesday, 03 September 14
KOREA MIDLAND POWER CO. LTD INVITES BIDS FOR 1 MMT OF BITUMINOUS & SUB-BITUMINOUS COAL FOR BORYEONG POWER PLANT
COALspot.com: KOMIPO again in the market for 1 million tons of 5700 NAR and 4600 NAR coal for Jan – March 2015. South Korean state-owned util ...
Wednesday, 03 September 14
CFR S.CHINA COAL SWAP FOR JAN 2015 DELIVERY CLOSED AT $ 68.30 PMT; DOWN 2.43% W-O-W
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 0.95 (-1.39%) day on day and US$ 1.40 (-2.03%) week on wee ...
Tuesday, 02 September 14
BERAU COAL HAS AWARDED A CONTRACT EXTENSION TO BUMA FOR 647 MLN BCM OVERBURDEN REMOVAL
COALspot.com: PT Delta Dunia Makmur Tbk (“DOID”) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama (&l ...
Monday, 01 September 14
GLOBALCOAL WELCOMES TWO NEW MARKET MEMBERS
COALspot.com: globalCOAL® announced today that two Market Members have joined its trading community. Both new Market Members are from the India ...
Sunday, 31 August 14
COAL FREIGHT RATES INTO INDIA FROM INDONESIA FIRM
COALspot.com: The freight market continued to firm this week. BDI up 5.42 percent week ended 29 August and closed at 1147 points while the Ca ...
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- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- CNBM International Corporation - China
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
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