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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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- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Planning Commission, India
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- The University of Queensland
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
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