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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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Sunday, 13 July 14
PANAMAX INDEX GAINS SLIGHTLY THIS WEEK; CAPE INDEX FALLS ALMOST 21.40%
COALspot.com: This week the freight market fell again after gaining last week. The cape index was down almost 21.40 pct and closed at 1465 points.
...
Friday, 11 July 14
EUROPE HAS A SUBSTANTIAL SURPLUS IN COAL SUPPLIES; RENEWABLE ENERGIES ARE REDUCING THE FULL-LOAD OPERATING HOURS OF HARD COAL-FIRED POWER PLANTS - VDKI
COALspot.com: General conditions for coal-fired power plants must be improved if the energy turnaround is to be a success, said German coal importe ...
Friday, 11 July 14
DR.CIESLIK RE-ELECTED AS CEO OF GERMAN COAL IMPORTER ASSOCIATION (VDKI)
Press Release : Dr Cieslik re-elected as CEO of German Coal Importer Association (VDKi) for the period 2014 – 2018. The German Coal Importer ...
Friday, 11 July 14
PORT OF NEWCASTLE SHIPPED $ 1.031 BILLION WORTH OF 11.744 MILLION TONS OF COAL IN JUNE 2014
COALspot.com: Port of Newcastle has shipped 11,744,396 tons of coal for the month ended 30 June 2014. According to Port’s monthly report, YTD ...
Friday, 11 July 14
UNITED STATE'S MONTHLY COAL OUTPUT FALLS 5.53% IN JUNE
COALspot.com – United States the world's second largest coal producer, produced approximately 18.1 million short tons (mmst) of coal in a ...
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- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Minerals Council of Australia
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Ministry of Mines - Canada
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
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