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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, 09 September 14
PORT OF NEWCASTLE SHIPPED 13.207 MTN OF COAL IN AUGUST; TRADE VALUE AROUND $1.17 BILLION
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.17 billio ...
Monday, 08 September 14
SUB-BIT FOB INDONESIA COAL SWAP UNDERPERFORMED LAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.20 (-0.39%) day on day and US$ 1.60 (-3.04%) per mt week on week. The ...
Monday, 08 September 14
API 8 CFR SOUTH CHINA COAL SWAP FOR DELIVERY JAN'15 CLOSED AT US$ 66.30 PMT W/E 5 SEPTEMBER 2014; LOST 5.15% M-O-M
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 0.15 (-0.23%) day on day and US$ 2.05 (-3.04%) week on wee ...
Monday, 08 September 14
CHINESE IRON ORE IMPORT DEMAND VERY STRONG - COMMODORE
COALspot.com: 30 dry bulk vessels were chartered in the spot iron ore market last week to haul iron ore import cargoes to Chinese buyers.
Acco ...
Sunday, 07 September 14
FREIGHT MARKET CONTINUED TO BE FIRM IN SPITE OF CAPE'S THIS WEEK'S WEAK PERFORMANCE
COALspot.com: BDI up by 0.7 pct week on week and closed at 1155 points this week. The Baltic Dry Index is a composite of three sub-indexes that mea ...
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Showing 3496 to 3500 news of total 6871 |
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- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Ministry of Mines - Canada
- The Treasury - Australian Government
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- The University of Queensland
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
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