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