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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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Sunday, 24 August 14
SEA FREIGHT MARKETS STARTING TO LOOK POSITIVE; CAPES DRIVE FREIGHTS HIGHER
COALspot.com: The freight market has strengthen further this week with BDI up 7.19 pct week on week. The BDI was closed at 1,088 points while the B ...
Friday, 22 August 14
INDIAN IRON ORE ROYALTY RISE NOT LIKELY TO HURT STEELMAKERS' MARGINS - FITCH
Fitch Ratings does not expect an increase in India's iron ore royalty rates to have a major impact on the profitability of steel producers in t ...
Friday, 22 August 14
ARBITRATION CLAUSE IN LOU HELD TO REPLACE CHARTERPARTY ARBITRATION CLAUSE
KNOWLEDGE TO ELEVATE
The Claimants had claims for cargo damage against the vessel Owners arising under four bills of lading. The vessel was th ...
Friday, 22 August 14
ICAP ENERGY LAUNCHES GLOBAL COKING COAL DERIVATIVES TRADING
First contract completed and cleared on CME
COALspot.com: ICAP Energy, the energy business of ICAP plc, announces today that it has successful ...
Friday, 22 August 14
U.S WEEKLY COAL PRODUCTION UP 2.4% WEEK OVER WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.60 million short tons (mmst) of coal in ...
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- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- MS Steel International - UAE
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
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