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Wednesday, 03 December 14
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
 The dry bulk market seems unable to turn sentiment round and is still looking for direction. The BCI's 887-point free fall last week had an obvious negative influence on the market, decelerating the “positive” movement of the other dry bulker segments. Although average freight rates have improved considerably compared to average levels of Q3, they are still well below expectations built up before the last quarter. It is clear by now that this bitter taste will usher us into the New Year as well. Under the current freight environment and with rates looking unable to bounce back up for longer periods, it seems that investment interest is scaling back currently.
In the New Building sector, the very strong 2013 in terms of orders and the equally strong beginning of this year as well, originally allowed Shipbuilders to become more relaxed as their slots were fully booked for 2015 and the 1st half of 2016. As the last quarter of 2014 is nearing to its end, the lack of demand for securing new slots and the increasing number of non-effective orders has changed sentiment dramatically though, pushing yards to become more accommodating in their price expectations and even offer substantial discounts in certain cases. As a matter of fact, Top Chinese shipyards are currently willing to offer Ultramax and Kamsarmax slots at USD 27.0m and USD 29.0m respectively, but even prices like that are considered too expensive to attract the attention of owners who could be considering a newbuilding order. In the same spirit, resale candidates are also facing lack of interest as the current freight market is not tempting enough for an owner to pay the premium.
At the same time, the downward correction of demolition prices during the past weeks by more than $50/$60 per long ton, has had an immediate effect on older assets, although given the highs demo prices reached this year, even after such corrections, the current levels of $430/$440 per long ton, offered in the Indian sub-Continent for dry bulk units are still relatively attractive. Therefore vessels built up to 1995 are currently in the market for scrap related prices, with small differentiations relative to their size, SS/DD position and delivery place. Tonnages built within the first decade of 2000 enjoy the most interest, while at the same time these vessels present heavily corrected prices, which are comparable to 2012 levels.
The softening of Japan’s currency has simultaneously brought additional sale candidates in the market, with buyers concentrating in modern Japanese built tonnage with the view that a quick profit could be locked by what looks like another mini-cycle in terms of asset values. As evidenced by the table above table, vessels prices are very close to bottom levels reached back in the December 2012 – January 2013 period, while the freight market has been fairing at better levels compared to that period, possibly implying opportunities to be found in the second-hand market.
By Konstantinos Kontomichis, SnP Broker, Intermodal
Compiled by:
Intermodal Research & Valuations
Analysts:
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.
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Monday, 02 March 15
FOB NEWCASTLE COAL SWAP ROSE 6.89% MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.35 per MT (+6.89%) month over month and US$ 0.40 (0.78%) week on ...
Sunday, 01 March 15
BDI INDEX SLIGHTLY UP CAUSED AN INCREASE IN THE PANAMAX, SUPARAMAX AND HANDY SIZE INDICES
COALspot.com: The freight market saw some gains this week and BDI was up 5.26 pct closed at 540 points. However the Cape index failed to follow BDI ...
Friday, 27 February 15
WEEKLY US COAL PRODUCTION DOWN AN ESTIMATED 14.0% FROM LAST WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 16.5 million short tons (mmst) of coal ...
Thursday, 26 February 15
DRY BULK MARKET COULD REBOUND FROM HISTORICAL LOWS IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market could exit from its historical lows in the coming weeks, as Chinese buyers reenter the market after the holiday celebrations. T ...
Thursday, 26 February 15
COAL POLICY RISK: HIGHER ROYALTIES FOR IUP HOLDERS - BAHANA SECURITIES | JAKARTA POST
The Energy and Mineral Resources Ministry plans to raise coal royalties charged to mining operation permit (IUP) holders by the end of the first qu ...
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Showing 3171 to 3175 news of total 6871 |
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- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- The University of Queensland
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
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