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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, 24 July 14
INDONESIA'S JUNE 2014 COAL EXPORT VOLUME DOWN 6.82%; AVERAGE SELLING PRICE DOWN
COALspot.com: Indonesia, one of the world's largest coal producer and the global leading multi grade coal exporter shipped around $1.70* ...
Thursday, 24 July 14
HANDY: SOUTH AFRICA SOFTENED A BIT, HERE RATES ARE AT AROUND 8K +150K BB FOR TRIPS EAST - FEARNLEYS AS
Handy
The handy market in the Atlantic is going sideways and a tick down on low activity. Levels hoovering around USD 5k on Supras. The SMX marke ...
Thursday, 24 July 14
INDONESIAN COAL EXPORTERS ARE REQUIRED TO OBTAIN ET-BATUBARA UNDER LATEST TRADE MINISTRY'S NEW REGULATION
COALspot.com: Indonesia's trade ministry has issued regulation No. 39/M-DAG/PER/7/2014 which is requires exporters of power plant coal as ...
Wednesday, 23 July 14
PANAMAXES WERE BACK ON A DOWNWARD COURSE; CAPES WERE FEELING THE MOST PRESSURE - INTERMODAL
COALspot.com: The Dry Bulk market was on a downward spiral this week, with the BDI noting another week-on-week decline of the magnitude of 10% this ...
Wednesday, 23 July 14
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
In Australia, the world’s largest mining group, BHP Billiton, will beat the iron ore export target of more than 220 million tonnes for 2014. ...
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Showing 3581 to 3585 news of total 6871 |
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- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Indika Energy - Indonesia
- VISA Power Limited - India
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Planning Commission, India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Economic Council, Georgia
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
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