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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, 06 August 14
SHIPPING MARKET INSIGHT - EVA TZIMA
Recent reports that Indonesia’s ban on exports of metal ore concentrates was lifted for the first time in six months for two of its biggest m ...
Wednesday, 06 August 14
SGX SUCCESSFULLY LAUNCHED NEW SGX COAL PRODUCTS
COALspot.com: Singapore Exchange (‘SGX’) has announced that, the exchange has successfully launched its new Coking and Thermal Coal pro ...
Monday, 04 August 14
ANNUAL SECOND HALF SURGE IN BRAZILIAN IRON ORE EXPORTS ABOUT TO BEGIN - JEFFREY LANDSBERG
COALspot.com: Great strength in the capesize market has all along been set to occur during the second half of this year, as that is when Brazilian ...
Monday, 04 August 14
SUB-BIT FOB INDONESIA COAL SWAP INCHES UP DESPITE LOW DEMAND
COALspot.com: Indonesian coal swaps for average Q4’ 2014 increased US$ 0.15 day on day and US$ 0.13 per mt week on week. But, the swap was lo ...
Monday, 04 August 14
Q1' 15 API 8 CFR SOUTH CHINA COAL SWAP CLOSED AT US$ 69.37 ON 1 AUGUST 2014; A $ 1.10 HIGHER COMPARED TO Q4' 2014 CLOSING
COALspot.com: Coal swap prices are showing a positive move upward this past week. API 8 CFR South China Coal swap for Q4, Q1 and Q2 2015 show ...
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- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- The University of Queensland
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Economic Council, Georgia
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Planning Commission, India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
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