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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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Monday, 11 August 14
SGX CFR SOUTH CHINA COAL SWAPS DIRECTION HEADING TO NORTH
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.50 (+0.74%) day on day and US$ 1.55 (+2.33%)&nbs ...
Monday, 11 August 14
A TALE OF TWO TRADES - EVA TZIMA
COALspot.com: It has without a doubt been “a cruel, cruel summer” for the Dry Bulk market so far and with second hand values still stan ...
Sunday, 10 August 14
FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com: This week the BDI and other segments saw some improvements. The BDI increased by 3.46 pct week on week and closed at 777 points.
...
Friday, 08 August 14
MINING DISPUTE IS CRIPPLING LOCAL ECONOMIES IN EASTERN INDONESIA - JG
- By Iwan Harsono -
It seems as if there’s no end in sight to the series of negotiations between the government and mining companies about ...
Friday, 08 August 14
CAPESIZE RATES ARE REMAINING MORE OR LESS UNCHANGED AT BOTTOM LOW LEVELS - FEARNLEYS AS
Handy
An improving sentiment with stronger rates and fair demand for prompt tonnage in the Atlantic, both on the Continent and in the Med for the ...
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Showing 3551 to 3555 news of total 6871 |
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- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- MS Steel International - UAE
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- PTC India Limited - India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- White Energy Company Limited
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
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