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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, 05 February 15
ULTRAMAX LEVELS FROM INDIA TO CHINA IN THE MID US$ 5000'S - FEARNLEYS AS
Handy
Despite the overall weak sentiment, there is a scent of optimism in the Atlantic market for ppt dates. Continent is still struggling with o ...
Wednesday, 04 February 15
MARKET INSIGHT - LINOS KOGEVINAS
It has been just about over 2 months since, in a move that surprised many and caused widespread apprehension, OPEC decided to maintain its producti ...
Tuesday, 03 February 15
Q1'15 FOB INDONESIA COAL SWAP CLOSED $ 3.29 HIGHER COMPARED TO Q4'15 DELIVERY PRICE
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 rose week over week and month on month.
The Q1 swap up US$ 0.68 (+1.41%) month o ...
Tuesday, 03 February 15
FOB NEWCASTLE COAL SWAP FOR Q4 DELIVERY CLOSED 5.86% LOWER THAN Q1 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery rose US$ 0.26 per MT (+0.51%) week over week and declined US$ 0.02 (-0.04%) ...
Monday, 02 February 15
API 4 FOB RICHARDS BAY COAL SWAP ROSE WEEK OVER WEEK
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and day on day.
The Q1 swap has decli ...
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Showing 3216 to 3220 news of total 6871 |
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- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Planning Commission, India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Romanian Commodities Exchange
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
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