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