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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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Thursday, 28 August 14
PANAMAX: OWNERS CAN GET AROUND USD 16000 FOR A FRONTHAUL; PERIOD MARKET - VERY QUIET - FEARNLEYS
Handy
The activity and sentiment is improving in the Atlantic with the general TA rate is up about US$ 800 w-o-w. We see more South American carg ...
Thursday, 28 August 14
BANPU REPORTS HIGHER FIRST-HALF YEAR RESULTS FOR 2014
COALspot.com: Banpu Public Company Limited (BANPU) reports higher first half-year financial results for 2014 having its gross profit increasing 3 p ...
Wednesday, 27 August 14
FREIGHT MARKET: IS THE MARKET IN A RECOVERY MOOD? - GEORGE ILIOPOULOS
Is the market in a recovery mood?
August is typically a time when the shipping industry takes it easy… charter-ers book their requireme ...
Tuesday, 26 August 14
4TH ANNUAL ASIA NICKEL
4th Annual Asia Nickel
19-20 Nov 2014
Grand Hyatt Jakarta, Indonesia
Web Site
Asia’s Premier Nickel Conference
Regulation in ...
Tuesday, 26 August 14
DESPITE LOW DRY BULK RATES, BULKER PRICES ARE STILL HIGH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, August tends to be a month of slow activity in the sale and purchasing market and this year has been no exception. However, as shipb ...
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- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- White Energy Company Limited
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- PTC India Limited - India
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Planning Commission, India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
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