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Wednesday, 06 May 15
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
 The first four months of 2015 are now behind us and they make up for a decent amount of time to look back and assess how the year is evolving so far and what could be possible ahead. January kicked off very quietly as far as SnP activity is concerned especially for dry bulk sale candidates, a big part of which remained for sale for quite some time or was withdrawn altogether from the market. In this environment, second hand prices remained under pressure for quite a while but not as long as some were actually waiting for.
As a matter of fact, as q1 came to an end we started seeing a rebound in activity with a number of prominent Greek owners once again inspecting modern Panamax/Kamsarmax/Supramax and it seems that we could now be at a turning point as far as dry bulk asset values are concerned.
A representative sale of this recent trend is the “TORM ISLAND” (82kdwt blt 10 Japan), which gathered a lot of interest and was eventually sold at levels in xs of USD 18.0m, which is around 7% higher than what her sister vessel “TORM TRADER” (82kdwt blt 10 Japan) managed to fetch about a month earlier. In addition the “TORM ISLAND” was rumored to be inspected by more than 10 owners, most of which were Greek who were sitting on the sidelines during the past couple of years and now seem to have turned their interest in modern tonnage that seems to be on a substantial discount.
Looking at the latest sales one could be reservedly optimistic that prices appear to be stabilizing, while the most recent sales are definitely not below the respective last dones, which is pretty much what we were seeing during the past six months. This is without a doubt a positive sign as the free fall of dry bulk asset prices had caused a mini panic all around, and while it is still uncertain how things will evolve it is currently proving a much needed breather to the market. At the same time we are noticing that as far as modern sale candidates are concerned, competition between Buyers seems strong, which is resulting in higher prices in the last two Kamsarmax sales that took place. Nonetheless if one compares these prices with Sellers ideas for similar tonnage in spring last year, it is evident why current prices appear attractive.
For example a 5-yr old Japanese Kamsarmax was sold at around USD 28.0m in April 2014, which is a hefty 55% higher than the levels for similar tonnage with SS/DD passed today. At the same time it is also interesting to see that the number of up to 10-yr old Supramax up to Panamax Japanese candidates on the market is exceptionally small which is resulting to even higher competition for these ships. Saying that, when it comes to Chinese tonnage, the last six sales that took place during the past month were indeed low, with a couple of representative examples being the “HUI AN HAI”(32kdwt blt 10 China) which was sold at USD 6.8m and the “NEW SAILING STAR” (32kdwt blt10 China) which was sold for even less at around USD 6.5m.
Given the pressure the freight market remains under, it seems that prices are showing some sort of resistance for now. The million dollar question remains whether this is the bottom or if there is more downside. But if one looks at recent sales together with Buyers’ behavior on the SnP side lately, these are both hinting that market belief is that a bottom has been reached or is about to be reached. The sales that will take place next will obviously clear up any doubt.
By George Iliopoulos
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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Monday, 21 September 15
KOMIPO OF KOREA INVITES BIDS FOR BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 390,000 Metric Tons (MT) of minimum 4,600 kcal ...
Sunday, 20 September 15
BALTIC CAPE INDEX ROSE 66.52 PER CENT AND STAND NOW AT 1995 POINTS
COALspot.com: The BDI (Baltic Dry Index) rose 17.35 per cent week over week to 960 points on Friday mainly driven by the Capesize segment. The Cape ...
Friday, 18 September 15
SHIPPING AND THE FED RATE DECISION: FINANCING COSTS COULD RISE EVEN HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Regardless of the FED’s decision to raise rates, shipping stands to be influenced by the decision. Shipbroker Allied Shipbroking noted this w ...
Friday, 18 September 15
U.S. COAL PRODUCTION DECLINED 6.7 PER CENT W-W: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.4 million shor ...
Thursday, 17 September 15
COALSPOT HAS LAUNCHED NEW THERMAL COAL INDICES FOR INDONESIAN COAL
COALspot.com has today launched real-time CS (i) Coal Indices.
The Indices represents 3800 kcal/kg GAR, 4200 kcal/kg GAR, 5000 kcal/kg GAR a ...
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Showing 2806 to 2810 news of total 6871 |
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- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- MS Steel International - UAE
- The University of Queensland
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Australian Coal Association
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- ICICI Bank Limited - India
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