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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is concerned especially for dry bulk sale candidates, a big part of which remained for sale for quite some time or was withdrawn altogether from the market.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.
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.
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Tuesday, 23 June 15
Q3 FOB INDONESIA COAL SWAP FALL $1.12 IN ONE MONTH
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and week over week, this past week.
The Q3 swap was declined $ ...
Tuesday, 23 June 15
FOB RICHARDS BAY COAL SWAP HAS REMAINED STEADY OVER THE PAST WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 rose month over month and week over week.
The Q3 swap was up US$ 2.32 ...
Monday, 22 June 15
BORYEONG POWER PLANT TO IMPORT 140K MT OF LCV COAL FOR AUGUST - SEPTEMBER 2015
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to purchase 140K Metric Tons (MT) of LCV coal for ...
Monday, 22 June 15
CFR SOUTH CHINA COAL SWAP: UP MONTH OVER MONTH; DOWN WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 0.30 (0.58%) per MT month over month.
A commodity swap is a ...
Monday, 22 June 15
FOB NEWCASTLE COAL SWAP: UP WEEK OVER WEEK AND MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 0.54 per MT (1.19%) month over month to US$ 45.87 per mt. The swap was ...
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Showing 2961 to 2965 news of total 6871 |
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- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Australian Coal Association
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- The University of Queensland
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
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