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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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Wednesday, 07 January 15
FUEL EFFICIENT SHIPS MAKE LESS SENSE IN LOWER BUNKER PRICE MARKET, BUT FUEL COSTS ARE BOUND TO RISE AGAIN
The shipping industry entered 2015 on mixed emotions, as a relatively buoyant tanker market is met by a rather lackluster dry bulk market. Still, a ...
Wednesday, 07 January 15
2015 IS RIDDLED WITH CHALLENGES FOR THE SHIPPING SECTOR, MOST NOTABLY THE DRY BULK MARKET - HELLENIC SHIPPING NEWS
As the new year has now set foot for real, many are still looking to detect what’s in store for the various shipping markets, with the first ...
Tuesday, 06 January 15
SHIPPING MUST ADOPT CAN-DO ATTITUDE IN 2015 - MOORE STEPHENS
Shipping needs to adopt a can-do attitude in order to successfully meet the challenges which are likely to come its way in 2015.
Shipping part ...
Tuesday, 06 January 15
Q4' 15 FOB INDONESIA COAL SWAP CLOSED 1.81% HIGHER COMPARED TO Q1' 15 CLOSING
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 0.74 (-1.51%) m ...
Tuesday, 06 January 15
FOB RICHARDS BAY COAL SWAPS LOST W-O-W AND M-O-M, SGX DATA SHOWS
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 3.52 (-5. ...
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Showing 3271 to 3275 news of total 6871 |
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- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- The University of Queensland
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
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