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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, 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 ...
Wednesday, 06 August 14
CAPES: BUSINESS INTEREST REMAINS SOFT; CURRENTLY NO SIGNS OF IMPROVEMENT - INTERMODAL
COALspot.com: Despite the considerable pressure witnessed in the freight market for most of the size segments, the Dry Bulk Index was able to note ...
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- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- The University of Queensland
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
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