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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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Thursday, 26 February 15
DRY BULK MARKET LOOKING FOR POSITIVE MOMENTUM, BUT PROSPECTS REMAIN DIM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the Baltic Dry Index (BDI) inched a bit higher over the past couple of sessions and the Chinese are returning to the market after a week long hi ...
Wednesday, 25 February 15
PORT OF NEWCASTLE SHIPPED 13.16MT OF COAL IN JANUARY; DECLINED 16.70% FROM A MONTH AGO
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.15 billio ...
Wednesday, 25 February 15
BDI SLIPPING ONCE MORE TO FRESH HISTORICAL LOWS
COALspot.com: With the BDI slipping once more to fresh historical lows and the Chinese holidays underway, signs for a positive reversal in the Dry ...
Tuesday, 24 February 15
FOB INDONESIA COAL SWAP SET TO RALLY
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap increased US$ 3.30 (+7.30%) ...
Tuesday, 24 February 15
Q3' FOB RICHARDS BAY COAL SWAP CLOSED $59.80 W/E 20 FEB
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and decline week on week.
The Q2 swap has soar ...
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Showing 3176 to 3180 news of total 6871 |
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- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Bhatia International Limited - India
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Planning Commission, India
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
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