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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, 18 August 14
CFR SOUTH CHINA COAL SWAP PERFORMED WELL THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.45 (+0.66%) day on day and US$ 0.30 (+0.44%)&nbs ...
Saturday, 16 August 14
HIGH DEMAND OF IRON ORE SHIPMENTS PUSHED CAPE INDEX UPWARDS
COALspot.com: This week's freight market was buoyant with Cape and panamax index seeing a big jump pushing the BDI above 1,000 points week on c ...
Friday, 15 August 14
5TH ANNUAL POWER AND ELECTRICITY INDONESIA
5TH ANNUAL POWER AND ELECTRICITY INDONESIA
13-16 October 2014
Grand Hyatt Jakarta, Indonesia
Web Site
The country’s definitive ...
Thursday, 14 August 14
U.S. STEAM COAL IMPORTS REMAIN DOWN SHARPLY FROM HISTORIC HIGH IN 2007, SAYS EIA
COALspot.com: U.S. steam coal imports at power plants have fallen significantly from their peak level of more than 30 million tons in 2007 to less ...
Thursday, 14 August 14
INDIA'S PLAN TO START AN INFRASTRUCTURE BOOM AND TO INVEST US$ 1 TRILLION BY 2017 WILL SURELY AFFECT THE DRY BULK TRADE - FEARNLEYS
Handy
The Atlantic Supra market has continued its improving sentiment with rates climbing and TA´s are now up about US$ 900 w-o-w, said Fea ...
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- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Australian Coal Association
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
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