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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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Sunday, 07 September 14
FREIGHT MARKET CONTINUED TO BE FIRM IN SPITE OF CAPE'S THIS WEEK'S WEAK PERFORMANCE
COALspot.com: BDI up by 0.7 pct week on week and closed at 1155 points this week. The Baltic Dry Index is a composite of three sub-indexes that mea ...
Sunday, 07 September 14
SHIPMANAGERS SUPERVISION CONTRACT FOR NEWBUILDS - BIMCO
Shipmanagers are frequently called upon by their owner clients to supervise newbuilding projects on their behalf. The scope of the manager’s ...
Saturday, 06 September 14
SLOW COAL EXPORT REGISTRATION RAISES CONCERNS - THE JAKARTA POST
Several coal mining companies have yet to receive the go-ahead from the Energy and Mineral Resources Ministry to obtain exporting licenses, leading ...
Saturday, 06 September 14
DRY BULK MARKET'S PROSPECTS ARE IMPROVING, DESPITE WEAK SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been rebounding during the past month, with the Baltic Dry Index (BDI) ended the week on a high note, reaching 1,155 points ...
Saturday, 06 September 14
INDONESIA WANTS TO REGULATE COAL DEALS - THE TELEGRAPH INDIA
Indonesia has raised concerns about suspected coal deals struck between overseas buyers and its unregistered domestic miners, the telegraph India r ...
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- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- PTC India Limited - India
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
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