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