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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, 19 September 14
PRICES FOR DRY BULK CARRIERS HAVEN'T CORRECTED ENOUGH, DESPITE LOWER THAN EXPECTED FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lot has been said and written about the looming dry bulk market recovery over the past few months. However, even if this hasn’t been materi ...
Thursday, 18 September 14
INDONESIA'S JULY COAL EXPORT VOLUME DROPPED 5.13% M-O-M
COALspot.com: Indonesia, one of the world's largest coal producer and the global leading multi grade coal exporter shipped around $1.65* ...
Thursday, 18 September 14
PANAMAX : US GULF/CHINA FRONTHAUL ARE NOW PAYING TYPICALLY 14.5K + 450K BB - FEARNRESEARCH
Handy
We still see a firming tendency in the Atlantic and it is still ECSA and USG leading on. USG/Cont now up in about USD 17/18k for a Smax whi ...
Thursday, 18 September 14
ELECTRONIC BILLS OF LADING: A GUIDE TO PAPERLESS TRADING WHICH HAS TAKEN THE SHIPPING INDUSTRY BY STORM
Bimco has recently developed and published a charter party clause that specifically addresses the use of electronic bills of lading. Increasing use ...
Wednesday, 17 September 14
PANAMAX: LIMITED INTEREST IN BOTH BASINS; RISING TONNAGE - INTERMODAL
With the week starting off at a fast pace and with the positive momentum from the previous Friday seemingly sticking around for a bit longer, most ...
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- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
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