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Tuesday, 26 August 14
DESPITE LOW DRY BULK RATES, BULKER PRICES ARE STILL HIGH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Traditionally, August tends to be a month of slow activity in the sale and purchasing market and this year has been no exception. However, as shipbroker Intermodal noted in a recent report, the month of August, while it is the quietest month of terms of ship transactions, it’s also a time very critical for the forthcoming quarter, as this is typically, a period during which the market seeks signs for the direction of asset prices.
As things stand at the moment, the future prospects of the sale and purchasing (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.
According to Intermodal’s SnP broker, Mr. Konstantinos Kontomichis, “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”, Mr. Kontomichis noted.
He added that “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 Usd 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”.
Meanwhile, according to the analyst, “on the newbuilding market, a big number of shipyards are sitting on a significant orderbook and currently don’t appear willing to proceed to heavy price discounts. Resale prices are perhaps a bit more elastic than newbuilding ones, and although they have dropped from the high levels reached earlier 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”, Kontomichis mentioned.
He went on to state that “having discussed what is going on the resale and vintage tonnage, which are heavily dependent upon newbuilding 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 newbuilding 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 Usd 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”, he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 26 September 14
NEWCASTLMAXES ARE THE MOST SOUGHT AFTER VESSELS BY SHIP OWNERS TODAY SAYS VESSELS VALUE
KNOWLEDGE TO ELEVATE
Determining a ship’s fair value can be a very tricky business, especially when you’re the one paying. As such ...
Thursday, 25 September 14
LACK OF COAL BUSINESS PUSHING DOWN PANAMAX EARNINGS IN PACIFIC
Handy
In the Atlantic we see rates steady climbing upwards. More coal cargoes out of USG and USEC are helping the TA market which is up some USD ...
Wednesday, 24 September 14
ADARO AGREED TO REDUCE ITS CONCESSION AREA TO 31,379.8 HECTARES
COALspot.com: PT Adaro Energy Tbk (Adaro Energy) today announced that, PT Adaro Indonesia (AI), its wholly owned subsidiary, entered into a M ...
Wednesday, 24 September 14
CAPESIZE: ACTIVITY IN BOTH BASINS WAS UNIMPRESSIVE
COALspot.com: The end of the week prior seems to have marked the tone for the days that followed, with the Dry Bulk market giving up a significant ...
Tuesday, 23 September 14
MEDCO TO INCREASE ITS COAL PRODUCTION NEXT YEAR
COALspot.com: PT Medco Energi Internasional is looking to increase its coal production next year, supported by the launch of operations at its Duta ...
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- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Central Electricity Authority - India
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Economic Council, Georgia
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