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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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Wednesday, 23 July 14
HARD COAL 2013: THE WORLD'S SECOND-MOST IMPORTANT ENERGY SOURCE AND GUARANTOR FOR THE SECURITY OF ENERGY SUPPLIES DURING TIMES OF CRISIS
Hard coal is again in 2013 the fastest-growing fossil primary energy source in the world. As shown in the BP Statistical Review 2014, it covered ab ...
Tuesday, 22 July 14
INDONESIAN ELECTION RESULT ENCOURAGING FOR FOREIGN INVESTMENT IN ENERGY AND MINING SECTORS - WOOD MACKENZIE
Joko Widodo-Jusuf Kalla has been announced as the official winner of Indonesia's presidential election. Joko Widodo, or Jokowi, is viewed as a ...
Tuesday, 22 July 14
THE CURRENT COAL PRICES ARE UNPROFITABLE FOR MINERS; COAL PRICES WILL GRADUALLY INCREASE - FITCH
COALspot.com: The Fitch Ratings expect the benchmark Newcastle coal prices (currently at about USD70/MT) to gradually increase.
Fitch's la ...
Tuesday, 22 July 14
SUB-BIT FOB INDONESIA COAL Q3' 14 DOWN 5.21%; Q4' 14 DOWN 3.56%; Q1' 15 DOWN 4.75% M-O-M
COALspot.com: Indonesian coal swaps for average Q3’ 2014 flat on day, weak week on week and on month according to AsiaClear OTC coal swap' ...
Tuesday, 22 July 14
INDONESIA'S MINERAL EXPORT BAN: CHINA UNDER PRESSURE? - CLARKSONS
In January 2014, Indonesia introduced new regulations on exports of unprocessed minerals. Exports of some minerals have been heavily taxed, whilst ...
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Showing 3586 to 3590 news of total 6871 |
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- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Posco Energy - South Korea
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
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