We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 18 March 15
PARKING THE CAPES - LINOS KOGEVINAS
 It is no secret that recent times have been anything but kind towards shipping, and no sector has suffered more lately than the dry bulk one. While we have seen various correctional signals for the wet sector (especially for the MR and VLCC segments), the dry market has had very few reasons to be hopeful. The BDI has been fairing at historical lows over the past few months and this had created a climate of widespread anxiety among dry bulk shipowners as there are limited hints of a recovery in the short-term.
With current cape spot market rates being significantly below OPEX levels, it seems that the patience of many Cape owners has finally begun to run out. As a result, they are left with a few options on how to proceed. There are two value-maximizing (or rather loss-minimizing) options; one is of course scrapping the vessel, almost certainly at a loss compared to the initial capital investment. With the scrap market revolving predominantly around bulk carriers and container vessels during the past weeks, it seems that many owners have selected this option.
On the other hand, some of the largest European Capesize players have selected the alternative route of parking their capes. A number of them have selected Kaohsiung, Taiwan as the ideal place to park their capes until rates pick up from the current depressing rates. Eastern Pacific has reportedly parked a number of their capes in anchorages (favoring the Kaohsiung anchorage).
Navios is also reported to have alluded to following the same route even going as far as suggesting that cold layups are the next step in order to cut what costs they can. The effects of such decisions on the market are hard to predict unless they are followed by a bigger number of owners, therefore for now it is expected that there will be a minor and more importantly temporary (lasting only until they’re back in the market) support in the market.
How sustainable will this strategy be? While the larger owners (many of whom have diversified fleets, thus hedging their exposure to the dry market troubles) may be able to sustain themselves long enough to survive through the current market slump, smaller players and those primarily invested in the cape segments will most definitely have trouble surviving where the situation is to persist for long.
With current conditions pushing more and more vessels out of the market, owners are awaiting Q2 in order to decide on their future moves. While short-term prospects are dire, the Indian coal market together with the Chinese steel import market, are possible candidates to partially help in the medium-long term recovery/ revival of the dry market sector.
As always, the amount of new orders that will be placed during the next quarters will play a determining role in the segment’s recovery, but given how quiet the newbuilding market for Capes has been since the summer of 2014, we believe that this should currently be the least of our worries.
By Linos Kogevinas
Marketing - Harbour Towage & Port Agency
Cotzias Intermodal Shipping Inc.
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.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 13 May 15
MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The EU governments in an effort to face their economic crisis individually are facing lack of political cohesion. This reflects back to each econom ...
Tuesday, 12 May 15
FOB INDONESIA COAL SWAP; DECLINED M-O-M AND W-O-W
COALspot.com: Indonesian coal swap for delivery Q3 2015 lost week over week and month on month, this past week.
The Q3 swap was declined US$ 0 ...
Tuesday, 12 May 15
FOB RICHARDS BAY COAL SWAPS: LOST W-O-W; GAIN M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 increased month over month and decreased week over week.
The Q3 swap h ...
Monday, 11 May 15
DRY BULK CARRIER ORDERS CRASH TO A TWENTY YEAR LOW - CLARKSONS
In the last four months dry bulk orders have fallen to 0.4m dwt per month, the lowest level since the 1990s. This is a massive 98% reduction from t ...
Monday, 11 May 15
HBA PRICE DIPS FURTHER; LOWEST RECORDED SINCE JANUARY 2009
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal benchmark prices to US$ 61.08 per MT in May ...
|
|
|
Showing 3026 to 3030 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
|
| |
| |
|
