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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, 13 July 14
PANAMAX INDEX GAINS SLIGHTLY THIS WEEK; CAPE INDEX FALLS ALMOST 21.40%
COALspot.com: This week the freight market fell again after gaining last week. The cape index was down almost 21.40 pct and closed at 1465 points.
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Friday, 11 July 14
EUROPE HAS A SUBSTANTIAL SURPLUS IN COAL SUPPLIES; RENEWABLE ENERGIES ARE REDUCING THE FULL-LOAD OPERATING HOURS OF HARD COAL-FIRED POWER PLANTS - VDKI
COALspot.com: General conditions for coal-fired power plants must be improved if the energy turnaround is to be a success, said German coal importe ...
Friday, 11 July 14
DR.CIESLIK RE-ELECTED AS CEO OF GERMAN COAL IMPORTER ASSOCIATION (VDKI)
Press Release : Dr Cieslik re-elected as CEO of German Coal Importer Association (VDKi) for the period 2014 – 2018. The German Coal Importer ...
Friday, 11 July 14
PORT OF NEWCASTLE SHIPPED $ 1.031 BILLION WORTH OF 11.744 MILLION TONS OF COAL IN JUNE 2014
COALspot.com: Port of Newcastle has shipped 11,744,396 tons of coal for the month ended 30 June 2014. According to Port’s monthly report, YTD ...
Friday, 11 July 14
UNITED STATE'S MONTHLY COAL OUTPUT FALLS 5.53% IN JUNE
COALspot.com – United States the world's second largest coal producer, produced approximately 18.1 million short tons (mmst) of coal in a ...
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Showing 3606 to 3610 news of total 6871 |
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- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Planning Commission, India
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
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