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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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Thursday, 28 August 14
PANAMAX: OWNERS CAN GET AROUND USD 16000 FOR A FRONTHAUL; PERIOD MARKET - VERY QUIET - FEARNLEYS
Handy
The activity and sentiment is improving in the Atlantic with the general TA rate is up about US$ 800 w-o-w. We see more South American carg ...
Thursday, 28 August 14
BANPU REPORTS HIGHER FIRST-HALF YEAR RESULTS FOR 2014
COALspot.com: Banpu Public Company Limited (BANPU) reports higher first half-year financial results for 2014 having its gross profit increasing 3 p ...
Wednesday, 27 August 14
FREIGHT MARKET: IS THE MARKET IN A RECOVERY MOOD? - GEORGE ILIOPOULOS
Is the market in a recovery mood?
August is typically a time when the shipping industry takes it easy… charter-ers book their requireme ...
Tuesday, 26 August 14
4TH ANNUAL ASIA NICKEL
4th Annual Asia Nickel
19-20 Nov 2014
Grand Hyatt Jakarta, Indonesia
Web Site
Asia’s Premier Nickel Conference
Regulation in ...
Tuesday, 26 August 14
GOVT ON TRACK TO LIMIT COAL OUTPUT - THE JAKARTA POST
The government has announced that it will proceed with plans to cap the production of coal next year, a move aimed not only at protecting the envir ...
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- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- White Energy Company Limited
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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