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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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- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- White Energy Company Limited
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- The University of Queensland
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- MS Steel International - UAE
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
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