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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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Wednesday, 13 August 14
WEEKLY MARKET INSIGHT - KONSTANTINOS KONTOMICHIS SNP BROKER
Being at the peak of the holiday season, August is, as usual, the quietest month in terms of snp transactions, yet it is also a time very critical ...
Wednesday, 13 August 14
WHAT DOES PROJECT CARGO REALLY MEAN TO INSURERS?
KNOWLEDGE TO ELEVATE
Richard Kamppari-Baker, claims manager of FP Marine Risks, explains the challenges of project cargo risk assessment from ...
Wednesday, 13 August 14
INDONESIAN COAL PRICE REFERENCE FALL AGAIN CLOSE TO 57 MONTHS LOWS
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price in August. HBA for the month of A ...
Monday, 11 August 14
LARGEST CHINESE TRADE SURPLUS EVER RECORDED IN JULY - BIMCO
China recorded a trade surplus of USD 47.3 billion in July 2014. The record high surplus came on the back of very strong export growth while import ...
Monday, 11 August 14
INDONESIAN THERMAL COAL SWAPS SEEING SOME POSITIVE TREND
COALspot.com: Indonesian coal swaps for average September 2014 increased US$ 0.20 (+0.36%) day on day and US$ 1.30 (+2.41%) per mt week on week. Th ...
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- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- PTC India Limited - India
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- The University of Queensland
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
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