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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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Monday, 25 August 14
4TH ANNUAL FLOATING TERMINALS
4th Annual Floating Terminals
18-20 Nov 2014
Intercontinental Jakarta Midplaza,
Indonesia
Web Site
The Floating Terminal c ...
Monday, 25 August 14
THE BALTIC DRY IS JUMPING, BUT DON'T DRAW ANY BROAD CONCLUSIONS - NASDAQ
Those who consistently preach doom and gloom and see an economic apocalypse around every corner would make me laugh if it weren’t for the fac ...
Monday, 25 August 14
COAL CEOS: DEMISE OF COAL 'EXAGGERATED' - MARK WILCOX
By Mark Wilcox
Heads of some of the largest coal companies in Wyoming are saying the demise of coal has been exaggerated, though the industry def ...
Monday, 25 August 14
INDO COAL SWAPS W-O-W: NEGATIVE; M-O-M: POSITIVE
COALspot.com: Indonesian coal swaps for average September 2014 decreased US$ 0.15 (-0.28%) day on day and US$ 0.65 (-1.19%) per mt week on week. Th ...
Monday, 25 August 14
API 8 CFR SOUTH CHINA COAL SWAP GAINED DAY OVER DAY AND MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.30 (+0.44%) day on day and decreased US$ 0.20 (- ...
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- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- MS Steel International - UAE
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
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