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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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Saturday, 30 August 14
INDIAN GOVERNMENT SHOULD TAKE NOTICE: THERMAL COAL IMPORT PRICES EXTREMELY LOW - COMMODORE RESEARCH
COALspot.com: Both Indonesian and Australian thermal coal prices are at the lowest levels seen this decade, with Indonesia's monthly benchmark ...
Saturday, 30 August 14
RECOVERY IN SIGHT FOR THE DRY BULK SHIPPING MARKET - DREWRY SHIPPING CONSULTANTS
Despite weak freight rates so far this year, Dry Bulk shipping earnings are forecast to recover as demand for both major and minor bulk commodities ...
Friday, 29 August 14
U.S. WEEKLY COAL PRODUCTION DROPS 1.3 PERCENT, EIA SAYS
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Friday, 29 August 14
ADARO'S PROFITS SINK FURTHER AMID FALL IN COAL PRICES - JP
Adaro Energy, one of the country’s largest coal miners, has reported a 31 percent drop in net profit in the first half of this year as global ...
Friday, 29 August 14
CHINESE LIGNITE IMPORTS: QUANTITY OVER QUALITY? - CLARKSONS
In the first half of 2014, Chinese seaborne coal imports declined 0.4% y-o-y to 148mt, largely reflecting a 3.3% fall in imports of steam coal. Mea ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- The University of Queensland
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Planning Commission, India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
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