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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, 15 September 14
CFR SOUTH CHINA COAL SWAP GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 2.30 (-3.36%) month over month, but increased day on day a ...
Sunday, 14 September 14
FREIGHT RATES RALLY AS DEMAND INCREASED
COALspot.com: The Baltic Dry Index (BDI) is a number (in US$) issued daily by the London-based Baltic Exchange up 2.25 percent week on week. BDI cl ...
Friday, 12 September 14
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 673.3 MMST, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
Thursday, 11 September 14
THE PANAMAX MARKET IS TAKING A BREATHER - FEARNLEYS
Handy
We have experienced more activity in both hemispheres this week, said Fearnleys in this week's weekly report.
"We see rates c ...
Wednesday, 10 September 14
ARE GREEK BANKS ON THE VERGE TO START LENDING AGAIN? - JOHN N. COTZIAS
It is well known that Greek Banks had suffered severely after the economic crisis of 2008. From that period onwards, major changes have occur ...
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- Marubeni Corporation - India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Sical Logistics Limited - India
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- London Commodity Brokers - England
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
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- GAC Shipping (India) Pvt Ltd
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- Economic Council, Georgia
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- Wood Mackenzie - Singapore
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- GMR Energy Limited - India
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- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Indika Energy - Indonesia
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- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Parliament of New Zealand
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- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Planning Commission, India
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- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
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- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
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- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
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- McConnell Dowell - Australia
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- Bhushan Steel Limited - India
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- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- The University of Queensland
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
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- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
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- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
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- Agrawal Coal Company - India
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- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
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