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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, 06 August 14
SHIPPING MARKET INSIGHT - EVA TZIMA
Recent reports that Indonesia’s ban on exports of metal ore concentrates was lifted for the first time in six months for two of its biggest m ...
Wednesday, 06 August 14
SGX SUCCESSFULLY LAUNCHED NEW SGX COAL PRODUCTS
COALspot.com: Singapore Exchange (‘SGX’) has announced that, the exchange has successfully launched its new Coking and Thermal Coal pro ...
Monday, 04 August 14
ANNUAL SECOND HALF SURGE IN BRAZILIAN IRON ORE EXPORTS ABOUT TO BEGIN - JEFFREY LANDSBERG
COALspot.com: Great strength in the capesize market has all along been set to occur during the second half of this year, as that is when Brazilian ...
Monday, 04 August 14
SUB-BIT FOB INDONESIA COAL SWAP INCHES UP DESPITE LOW DEMAND
COALspot.com: Indonesian coal swaps for average Q4’ 2014 increased US$ 0.15 day on day and US$ 0.13 per mt week on week. But, the swap was lo ...
Monday, 04 August 14
Q1' 15 API 8 CFR SOUTH CHINA COAL SWAP CLOSED AT US$ 69.37 ON 1 AUGUST 2014; A $ 1.10 HIGHER COMPARED TO Q4' 2014 CLOSING
COALspot.com: Coal swap prices are showing a positive move upward this past week. API 8 CFR South China Coal swap for Q4, Q1 and Q2 2015 show ...
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- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Parliament of New Zealand
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
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