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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, 04 September 14
PUNJAB STATE POWER CORPORATION LIMITED OF INDIA HAS DECIDED TO BUY IMPORTED COAL - HINDUSTAN TIMES
COALspot.com: The Punjab State Power Corporation Limited (PSPCL) has decided to buy imported coal to run its thermal plants, as reported by Hindust ...
Thursday, 04 September 14
INDONESIAN COAL MINERS MAY GET MORE TIME ON ROYALTIES - FITCH RATINGS
COALspot.com: Fitch Ratings says that coal miners in Indonesia are likely to get more time to repay the government the royalties that were set off ...
Thursday, 04 September 14
INDONESIAN COAL SWAPS SLIDE THIS PAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.90 (-1.68%) day on day and US$ 1.80 (-3.31%) per mt week on week. The ...
Thursday, 04 September 14
CAPESIZE : SENTIMENT REMAINS POSITIVE FOR Q3/Q4 - FEARNRESEARCH
Handy
The Atlantic market has experienced more activity this week. Rates for TA´s are up about 8% w-o-w, much lead by an increasing number ...
Wednesday, 03 September 14
KOREA MIDLAND POWER CO. LTD INVITES BIDS FOR 1 MMT OF BITUMINOUS & SUB-BITUMINOUS COAL FOR BORYEONG POWER PLANT
COALspot.com: KOMIPO again in the market for 1 million tons of 5700 NAR and 4600 NAR coal for Jan – March 2015. South Korean state-owned util ...
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Showing 3506 to 3510 news of total 6871 |
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- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- The University of Queensland
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
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