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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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Tuesday, 09 September 14
WEAK M&A DESPITE ABUNDANT DISTRESSED INDONESIA COAL ASSETS - FITCH RATINGS
COALspot.com: Fitch Ratings says that a meaningful level of merger and acquisition (M&A) activity leading to a consolidation of the coal sector ...
Tuesday, 09 September 14
PORT OF NEWCASTLE SHIPPED 13.207 MTN OF COAL IN AUGUST; TRADE VALUE AROUND $1.17 BILLION
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.17 billio ...
Monday, 08 September 14
SUB-BIT FOB INDONESIA COAL SWAP UNDERPERFORMED LAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.20 (-0.39%) day on day and US$ 1.60 (-3.04%) per mt week on week. The ...
Monday, 08 September 14
API 8 CFR SOUTH CHINA COAL SWAP FOR DELIVERY JAN'15 CLOSED AT US$ 66.30 PMT W/E 5 SEPTEMBER 2014; LOST 5.15% M-O-M
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 0.15 (-0.23%) day on day and US$ 2.05 (-3.04%) week on wee ...
Monday, 08 September 14
CHINESE IRON ORE IMPORT DEMAND VERY STRONG - COMMODORE
COALspot.com: 30 dry bulk vessels were chartered in the spot iron ore market last week to haul iron ore import cargoes to Chinese buyers.
Acco ...
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- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
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