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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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Wednesday, 17 September 14
SHIPPING MARKET INSIGHT - GEORGE LAZARIDIS
Since the onslaught of 2013 the rising tide of asset prices had been primarily driven by the increasing freight market conditions and the improving ...
Tuesday, 16 September 14
INDONESIAN GOVERNMENT DECLARED HBA SUFFERED ANOTHER SETBACK IN SEPTEMBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in September. HBA for ...
Tuesday, 16 September 14
INDONESIAN COAL OUTPUT WON'T EXCEED 421M TONS: GOVT - JP
The government is optimistic that it will meet its coal production target for this year, which caps nationwide production at a flat number compared ...
Monday, 15 September 14
CHINA'S COAL PROPOSALS LEAVE SOME HOPE FOR EXPORTERS - DAILY NEWS
When the best thing you can say about new policies is that they aren’t as bad as they could have been, then you know your industry is in deep ...
Monday, 15 September 14
SUB-BIT FOB INDONESIA COAL SWAP, JANUARY 2015 DELIVERY GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: Indonesian coal swaps for average October 2014 increased US$ 0.40 (+0.78%) day on day and US$ 0.55 (+1.08%) per mt week on week. The ...
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- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- PTC India Limited - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
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