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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, 09 July 14
SHIPPING MARKET INSIGHT - PANOS TSILINGIRIS
The mini-boom in dry bulker values catapulted ship prices too fast too far over the last one-and-a-half year. The concurrence of historically low p ...
Tuesday, 08 July 14
INDONESIAN COAL PRICE REFERENCE FALL AGAIN IN JULY; LOST 1.62%
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia again revised down the coal bench mark price in July. HBA for month of J ...
Tuesday, 08 July 14
ENERGY IN THE MIX - INTERMODAL SHIPBROKERS
With the Tanker freight market having showed much promise this year compared to the performance that had been noted during the previous five, it is ...
Monday, 07 July 14
INDONESIA STATE-CONTROLLED COAL MINER BUKIT ASAM TO TRADE COAL ON-LINE THROUGH JFX
COALspot.com: Indonesian state owned coal miner PT Tambang Batubara Bukit Asam Tbk (PTBA) has teamed up with Jakarta Futures Exchange (JFX) to sell ...
Monday, 07 July 14
RBCT, THE WORLD'S SINGLE LARGEST EXPORT COAL TERMINAL SHIPPED 31.91 MMT OF COAL IN H1 2014
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the world’s single largest export coal terminal, shipped 31.91 million ton ...
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Showing 3616 to 3620 news of total 6871 |
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- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Australian Coal Association
- The Treasury - Australian Government
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
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