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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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Friday, 08 August 14
U.S PRODUCED 35.80 MMST OF COAL IN JULY; UP 7.89 MONTH OVER MONTH
COALspot.com – United States the world's second largest coal producer, produced approximately 19.50 million short tons (mmst) of coal in ...
Friday, 08 August 14
PORT OF NEWCASTLE SHIPPED 19.52% MORE COAL IN JULY FROM LAST MONTH
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped 14,036,947 t ...
Thursday, 07 August 14
SHORT-TERM COAL OUTLOOK IMPROVES - SAM QUEST
With demand for and supply of coal to grow in the near future, prices are expected to rebound in the short term; the long-term prospects, however, ...
Thursday, 07 August 14
BULKING UP IN AFRICA: CHINA INFLATES SEABORNE MINERALS EXPORT TRADE - RICHARD SCOTT
Africa’s profile as an exporter of dry bulk commodities is rising. Responding to growing import demand from China, India and other buyers in ...
Wednesday, 06 August 14
CAPES: BUSINESS INTEREST REMAINS SOFT; CURRENTLY NO SIGNS OF IMPROVEMENT - INTERMODAL
COALspot.com: Despite the considerable pressure witnessed in the freight market for most of the size segments, the Dry Bulk Index was able to note ...
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- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- The University of Queensland
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
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