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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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Sunday, 03 August 14
LACK OF COAL SHIPMENTS FROM FAR EAST/SE ASIA, THE PRESSURE ON CHARTER RATES CONTINUED THIS WEEK
COALspot.com: This week, the freight rates were almost flat as charter rates were also almost steady from last week.
The BDI was up by 2.59 pc ...
Friday, 01 August 14
UNCERTAINTY IN ASIAN COAL MARKETS WHERE INDEX-LINKED PRICING DOMINATES - SGX
COALspot.com: In the past 3 years, seaborne thermal coal markets have been in a state of constant oversupply.
Reuters expects this oversupply ...
Friday, 01 August 14
U.S PRODUCED 19.4 MMST OF COAL IN A WEEK, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Thursday, 31 July 14
CAPESIZE: CARGO VOLUMES, COAL IN PARTICULAR, PRESENTLY NOT SUFFICIENT TO EMPLOY A GROWING FLEET - FERNLEYS
Handy
Both the Atlantic and Pacific has improved in the supramax segment over the last week, said Fernleys in Its latest weekly report . There we ...
Thursday, 31 July 14
RIO TINTO SELLS MOZAMBIQUE COAL ASSETS FOR US$ 50 MILLION TO INDIA'S ICVL
COALspot.com: Rio Tinto has agreed to sell its Mozambique coal assets for just US$ 50 million to International coal ventures Private limited of Ind ...
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Showing 3566 to 3570 news of total 6871 |
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- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Planning Commission, India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
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