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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, 03 September 14
KOREA MIDLAND POWER CO. LTD INVITES BIDS FOR 1 MMT OF BITUMINOUS & SUB-BITUMINOUS COAL FOR BORYEONG POWER PLANT
COALspot.com: KOMIPO again in the market for 1 million tons of 5700 NAR and 4600 NAR coal for Jan – March 2015. South Korean state-owned util ...
Wednesday, 03 September 14
CFR S.CHINA COAL SWAP FOR JAN 2015 DELIVERY CLOSED AT $ 68.30 PMT; DOWN 2.43% W-O-W
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 0.95 (-1.39%) day on day and US$ 1.40 (-2.03%) week on wee ...
Tuesday, 02 September 14
BERAU COAL HAS AWARDED A CONTRACT EXTENSION TO BUMA FOR 647 MLN BCM OVERBURDEN REMOVAL
COALspot.com: PT Delta Dunia Makmur Tbk (“DOID”) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama (&l ...
Monday, 01 September 14
GLOBALCOAL WELCOMES TWO NEW MARKET MEMBERS
COALspot.com: globalCOAL® announced today that two Market Members have joined its trading community. Both new Market Members are from the India ...
Sunday, 31 August 14
COAL FREIGHT RATES INTO INDIA FROM INDONESIA FIRM
COALspot.com: The freight market continued to firm this week. BDI up 5.42 percent week ended 29 August and closed at 1147 points while the Ca ...
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- India Bulls Power Limited - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- The University of Queensland
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
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