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Wednesday, 01 April 15
WEEKLY SHIPPING MARKET UPDATE - INTERMODAL
 There is no doubt that we are still witnessing a very challenging and at the same time very uncertain market, both with respect to dry chartering as well as SnP activity. As far as the latter is concerned, we observe a strong nega-tive trend in asset prices that has kicked off back in mid-2014, but which has nevertheless still hasn’t convinced buying interest to the extent that one would think. This trend affects all segments and ages with the most repre-sentative examples those of the 10-year old Panamax and the 5-year old Cape, the prices of which are currently at a massive discount compared to a year ago.
The obvious question that rises among the majority of shipowners and po-tential investors is whether this is the right time to invest in second hand vessels or not, but this time round the argument for investing is very hard to make as the present earnings from the very depressed freight market are at levels that in many cases fail to even cover operation expenses.
So does buying a ship at a low freight market entail a substantial risk? The answer is a definitive yes, but as it has happened many times in the past, such risks have proven to be excellent investment choices when improved freight levels finally take place following a market recovery. The million dol-lar question is as always what is the best time for such investments, and one that cannot be answered as the “perfect timing” or “accurately calling the bottom” is a very rare occurrence in this market to begin with.
When looking at the very low asset prices and the fairly intense buying inter-est of the last month, especially for vessels build post 1990, one could ob-serve that some key players are eager to buy at the lowest price they can achieve right now, having in mind that the BDI has reached its historical bottom recently and a gradual rise is bound to happen even at a pace that might not secure immediate profit for shipowners.
At the same time, the oversupply of available tonnage in the dry market remains a very important issue, especially if one takes into account the num-ber of bulkers that are due to be delivered this year following the ordering spree of 2013. Slippage and cancellation might help this number eventually come in lower than expected, while on top of that, intense demolition activi-ty is already offering hopes for a much needed breather in the dry bulk mar-ket, despite the fact that demo prices are currently in the range of $360-380/ldt. Although a slight increase in steel prices has been observed in the past couple of weeks this is not yet reflected in demo prices, but if it eventu-ally does, we expect the number of bulkers heading for scrapped to acceler-ate.
To sum up despite the fact that the dry market is not currently showing signs of a recovery being just around the corner, I believe that we will sooner rather than later observe more intense buying interest being transformed into actual deals, especially for vessels that are easier to charter these days and still manage to do so over OPEX levels, such as geared sizes build after 2000.
By Panos Makrinos
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Tuesday, 07 April 15
SUB-BIT FOB INDONESIA COAL SWAP KEEPS DROPPING; DROPPED 2% W-W
COALspot.com: Indonesian coal swap for delivery Q2 2015 declined month on month and week over week.
The Q2 swap was declined US$ 2.44 (5.14%) ...
Tuesday, 07 April 15
Q3 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 55.96 PMT; DOWN 8.40% M-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and week on week.
The Q2 swap has declined U ...
Monday, 06 April 15
INDONESIA'S HBA FIXED AT US$ 64.48 PMT FOR APRIL DELIVERY; DOWN 4.84% M-M
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal benchmark prices to US$ 64.48 per MT in Apr ...
Monday, 06 April 15
FOB NEWCASTLE COAL SWAP DECLINED 12% MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 6.23 per MT (-12%) month over month and US$ 0.86 (-1.85%) week ...
Monday, 06 April 15
CFR SOUTH CHINA COAL SWAP FALL CONTINUES
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 5.96 (-10.37%) per MT month over month and US$ 0.98 (- ...
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Showing 3086 to 3090 news of total 6871 |
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- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- White Energy Company Limited
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- PTC India Limited - India
- Lanco Infratech Ltd - India
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- MS Steel International - UAE
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
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