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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, 05 September 14
U.S. PRODUCED 19.2 MMST OF COAL LAST WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
Thursday, 04 September 14
PUNJAB STATE POWER CORPORATION LIMITED OF INDIA HAS DECIDED TO BUY IMPORTED COAL - HINDUSTAN TIMES
COALspot.com: The Punjab State Power Corporation Limited (PSPCL) has decided to buy imported coal to run its thermal plants, as reported by Hindust ...
Thursday, 04 September 14
INDONESIAN COAL MINERS MAY GET MORE TIME ON ROYALTIES - FITCH RATINGS
COALspot.com: Fitch Ratings says that coal miners in Indonesia are likely to get more time to repay the government the royalties that were set off ...
Thursday, 04 September 14
INDONESIAN COAL SWAPS SLIDE THIS PAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.90 (-1.68%) day on day and US$ 1.80 (-3.31%) per mt week on week. The ...
Thursday, 04 September 14
CAPESIZE : SENTIMENT REMAINS POSITIVE FOR Q3/Q4 - FEARNRESEARCH
Handy
The Atlantic market has experienced more activity this week. Rates for TA´s are up about 8% w-o-w, much lead by an increasing number ...
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- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
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