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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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Monday, 28 July 14
S. KOREA'S KOSPO SEEKS 148K T OF 4700 NAR COAL
COALspot.com: Korea Southern Power Co Ltd (KOSPO) is seeking 148,000 tonnes of 4,700 kcal/kg NCV steaming coal for shipment between October to Nove ...
Monday, 28 July 14
CFR SOUTH CHINA COAL SWAP SLIGHTLY UP WEEK ON WEEK
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. The swap for Q3, Q4 and Q1 2015 showing slight improvement ...
Sunday, 27 July 14
RAMADAN HOLIDAYS IN INDONESIA PUTTING PRESSURE ON CHARTER RATES FROM INDONESIA - VISTAAR INDIA
COALspot.com: The freight rates were almost steady as very slight improvement in BDI by about 1 pct. The BDI was at 739 points after improvin ...
Saturday, 26 July 14
COAL MINING COMPANIES CLOSED TEMPORARILY - THE JAKARTA POST
The Sarolangun regency administration in Jambi has suspended the operations of 10 coal mining companies in line with a circular issued by Regent Ce ...
Friday, 25 July 14
U.S WEEKLY COAL PRODUCTION UP AROUND 3.5% WEEK ENDED JULY 19
COALspot.com – United States the world's second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
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- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Economic Council, Georgia
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
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