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