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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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Tuesday, 02 December 14
FOB RICHARDS BAY COAL SWAPS LOST MONTH OVER MONTH
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month, week on week and day over day.
The Q1 swap has lost U ...
Tuesday, 02 December 14
SUB-BIT FOB INDONESIA COAL Q1' 15 DELIVERY SWAP CLOSED AT US$ 49.50
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week over week and day on day.
The Q1 swap has lost US$ 0.4 ...
Monday, 01 December 14
SGX'S FOB NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 52.50
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.50 on 28 November after losing US$ 1.20 (-2.23%) month ove ...
Monday, 01 December 14
Q2' 15 DELIVERY CFR SOUTH CHINA COAL SWAP CLOSED 0.42% LOWER THAN Q1' 15 DELIVERY CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 2.45 (-3.78%) month over month and US$ 0.67 (-1.06%) we ...
Sunday, 30 November 14
SUPRAMAX COAL FREIGHT RATES FROM INDONESIA TO INDIA : FIRM
COALspot.com: The BDI fell 171 points and closed at 1153 points on Friday 28 November 2014. The Cape index also lost 887 points and closed at 2151 ...
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Showing 3336 to 3340 news of total 6871 |
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- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Australian Coal Association
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- The University of Queensland
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Marubeni Corporation - India
- Eastern Energy - Thailand
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