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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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Monday, 22 September 14
COAL SECTOR CHAOS - GENESIS TO REVELATION - DIPESH DIPU
COALspot.com: “Let there be light”, intends the government of India but the fuel side of the story paints a blackout. The recent Suprem ...
Monday, 22 September 14
CFR SOUTH CHINA COAL SWAPS LOST ON DAY, WEEK AND MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 3.10 (-4.50%) month over month and $ 0.95 PT MT week over ...
Monday, 22 September 14
INDONESIAN COAL SWAPS LOST WEEK ON WEEK AND MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for average October 2014 increased US$ 0.35 (+0.69%) day on day and lost US$ 0.30 (-0.58%) per mt week on week. ...
Sunday, 21 September 14
CAPE INDEX LOST 17% W-O-W ; BALTIC DRY PLUNGES 106 POINTS
COALspot.com: This week the freight market softened a bit compared to last week.
BDI fell 8.97% week on week and closed BDI at 1075 points on ...
Friday, 19 September 14
U.S. WEEKLY COAL PRODUCTION RELATIVELY FLAT AT +0.1% - EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
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- Central Electricity Authority - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- The University of Queensland
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
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