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