We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 17 September 14
SHIPPING MARKET INSIGHT - GEORGE LAZARIDIS
 Since the onslaught of 2013 the rising tide of asset prices had been primarily driven by the increasing freight market conditions and the improving sentiment as to the future prospects of the Dry Bulk markets. Having put behind them the “lean” years of 2011 and 2012, owners were starting to feel more confident about the conditions they would face moving forward.
Many saw a more balanced market were the ore reasonable delivery schedule of newbuildings (compared to that of 2012) would be met with the equal demand growth that they had been accustomed to during the period post the 2008 crisis.
This was a fairly reasonable assumption as there seemed to be nothing in sight that could stop the insatiable appetite from the developing economies for further growth and higher consumption of raw materials. This all proved the more reasonable when just at the start of the final quarter of 2013 a major rally in the freight markets started to take place, bringing earnings to levels that were long forgotten.
Yet this rosy picture painted by many in their mind was already breaking at the seams. The freight market started to plummet back down to the levels seen in early 2013 and whispers started to emerge of an imminent slowdown in growth by the dry bulk’s major driving economy, namely China. Yet this did not seem to have the strong impact many would have anticipated in the secondhand market. Prices continued to climb at an extraordinary rate peaking late April early May were a promise of a strong spring market never materialized. Yet even after this, the correction was only marginal. So why is there still such optimism amongst buyers? and more specifically why still for the larger capsize vessels?
Many may be still convinced that appetite will still be there going forward for both iron ore and coal by the world’s second largest economy. In all truth there may well be a new stimulus plan just around the corner and things may well get back on track with regards to demand. But it seems there is a more indirect cause at play here. While the continual increase in asset prices may be seen as a reflection of a more bullish approach by investors, it seems to be more the excess of financing and the high price ideas held by the few available sellers in the market.
With regards to the former, one must not forget that finance was not easily available during 2011-2012, especially for secondhand purchases and as a consequence the large influx of cash has made most buyers willing to splash out more in order to fuel their expansion plans.
This will inevitably have some consequences going forward as most of this readily available cash comes at a much higher cost then what the traditional bank driven finance would have. As to the side of the sellers, there are few out there willing to part with their assets at lower prices than they have been used to seeing over the past couple of months, and holding a more optimistic view themselves, they are only truly willing sellers at the currently prevailing prices.
The question that holds is how long will this new price reality hold? And will freight rates eventually show the recovery all these prospective buyers are hoping for?
Compiled by:
Intermodal Research & Valuations
Analysts:
Mr. George Lazaridis
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 16 September 14
INDONESIAN GOVERNMENT DECLARED HBA SUFFERED ANOTHER SETBACK IN SEPTEMBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in September. HBA for ...
Tuesday, 16 September 14
INDONESIAN COAL OUTPUT WON'T EXCEED 421M TONS: GOVT - JP
The government is optimistic that it will meet its coal production target for this year, which caps nationwide production at a flat number compared ...
Monday, 15 September 14
CHINA'S COAL PROPOSALS LEAVE SOME HOPE FOR EXPORTERS - DAILY NEWS
When the best thing you can say about new policies is that they aren’t as bad as they could have been, then you know your industry is in deep ...
Monday, 15 September 14
SUB-BIT FOB INDONESIA COAL SWAP, JANUARY 2015 DELIVERY GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: Indonesian coal swaps for average October 2014 increased US$ 0.40 (+0.78%) day on day and US$ 0.55 (+1.08%) per mt week on week. The ...
Monday, 15 September 14
CFR SOUTH CHINA COAL SWAP GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 2.30 (-3.36%) month over month, but increased day on day a ...
|
|
|
Showing 3486 to 3490 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
|
| |
| |
|
