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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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Friday, 17 October 14
INTERNATIONAL COAL PRICES ARE AT LOWEST LEVEL; COAL STOCKS AT INDIAN POWER PLANTS ARE ALSO AT LOWEST LEVEL
International coal prices as well as coal freights are falling and reaching to its lowest levels. According to PTI, fuel stockpiles at the thermal ...
Friday, 17 October 14
U.S. COAL PRODUCTION UP BY 3.6% WEEK - ON - WEEK
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.20 million short tons (mmst) of coal in ...
Friday, 17 October 14
DRY BULK SHIPPING'S OUTLOOK NOW SHIFTING TO A LESS PROMISING ONE, SHIP PRICES EXPECTED TO FOLLOW SOON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
China’s and other Asian countries’ return to the dry bulk market last week, didn’t trigger the hoped support towards the dry bulk ...
Thursday, 16 October 14
KOREA MIDLAND POWER TO BUY 490K MT OF LCV COAL FOR 1Q 2015
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 490,000 Metric Tons (MT) of LCV (Sub) Bitumino ...
Thursday, 16 October 14
PANAMAX OWNERS RECEIVE A PREMIUM FOR GOING TO INDIA VIA INDONESIA - FEARNLEYS AS
Handy
The Handy/Supra market continues to slide in both hemispheres, said Fearnleys AS in its latest week report. In the Atlantic we see rates co ...
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Showing 3421 to 3425 news of total 6871 |
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- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Australian Coal Association
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Planning Commission, India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
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