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