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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, 21 August 14
PREDICTIONS FROM VARIOUS SHIPPERS AND MINING INDUSTRY FOR 2ND HALF YEAR AND ESPECIALLY Q4 IS POSITIVE
Handy
The activity has increased in both hemispheres this week and we see rates edging up on all trades. TA´s are now paying around 8k whic ...
Thursday, 21 August 14
SHIP OWNERS KEEP SHYING AWAY FOR NEW SHIP INVESTMENTS, OVERALL TREND IS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have remained in the sidelines of the Sale & Purchasing market for second hand vessels, during most of August, while they also slow ...
Wednesday, 20 August 14
DRY BULK MARKET TO REBOUND IN THE FOURTH QUARTER, OR NOT....- NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The projected rebound of the dry bulk market is still an elusive trend and shipbrokers and analysts are looking to identify the timing of the loomi ...
Monday, 18 August 14
CAPESIZE RATES TO RISE TO MUCH HIGHER LEVELS THIS YEAR - JEFFREY LANDSBERG
COALspot.com: Capesize rates ended last week at $15,561/day, which marked a week-on-week increase of $6,167 (66%). Capesize rates have been a ...
Monday, 18 August 14
SUB-BIT FOB INDONESIA COAL SWAP CLOSED AT $58.60 FOR SEPTEMBER 2015; UP $4 FROM SEPTEMBER 2014 CLOSING
COALspot.com: Indonesian coal swaps for average September 2014 decreased US$ 0.15 (-0.27%) day on day and US$ 0.75 (-1.36%) per mt week on week. Th ...
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- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- The University of Queensland
- Videocon Industries ltd - India
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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