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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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Friday, 22 August 14
U.S WEEKLY COAL PRODUCTION UP 2.4% WEEK OVER WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.60 million short tons (mmst) of coal in ...
Thursday, 21 August 14
PREDICTIONS FROM VARIOUS SHIPPERS AND MINING INDUSTRY FOR 2ND HALF YEAR AND ESPECIALLY Q4 IS POSITIVE
Handy
The activity has increased in both hemispheres this week and we see rates edging up on all trades. TA´s are now paying around 8k whic ...
Thursday, 21 August 14
SHIP OWNERS KEEP SHYING AWAY FOR NEW SHIP INVESTMENTS, OVERALL TREND IS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have remained in the sidelines of the Sale & Purchasing market for second hand vessels, during most of August, while they also slow ...
Wednesday, 20 August 14
DRY BULK MARKET TO REBOUND IN THE FOURTH QUARTER, OR NOT....- NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The projected rebound of the dry bulk market is still an elusive trend and shipbrokers and analysts are looking to identify the timing of the loomi ...
Monday, 18 August 14
CAPESIZE RATES TO RISE TO MUCH HIGHER LEVELS THIS YEAR - JEFFREY LANDSBERG
COALspot.com: Capesize rates ended last week at $15,561/day, which marked a week-on-week increase of $6,167 (66%). Capesize rates have been a ...
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- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
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