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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is concerned especially for dry bulk sale candidates, a big part of which remained for sale for quite some time or was withdrawn altogether from the market.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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Wednesday, 15 July 15
SAS TO BUILD 108 KM ROAD FOR COAL IN JAMBI, SAYS JAKARTA POST
Jambi Governor Hasan Basri Agus said on Sunday that mining company PT Sinar Anugerah Sukses (SAS) would develop a 108-kilometer road with a width o ...
Wednesday, 15 July 15
ANY FUTURE IRAN OIL DEAL WILL BOOST SUPPLY FUNDAMENTALS WITH TANKER OWNERS HOPING FROM TEHRAN TO QUICKLY BOOST ITS PRODUCTION
With the Greek “Euro-drama” apparently over, at least for now, Iran’s oil deal still remains elusive, with any potential agreemen ...
Tuesday, 14 July 15
FOB NEWCASTLE COAL SWAPS MAINTAIN OVERALL NEGATIVE TONE THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery down $ 1.02 per MT (-2.23%) month over month to US$ 44.68 per mt. The swap ...
Tuesday, 14 July 15
CFR SOUTH CHINA COAL SWAPS DECLINE THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 1.47 (2.82%) per MT month over month.
A commodity swap ...
Monday, 13 July 15
THERMAL COAL IMPORTS SOAR 23 PER CENT TO 24.08 MILLION TONNES AT 12 MAJOR INDIAN PORTS
Import of thermal coal jumped 23 per cent to 24.08 million tonnes at 12 major ports in the first quarter of the fiscal, even as the government cont ...
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Showing 2926 to 2930 news of total 6871 |
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- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Australian Coal Association
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
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