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