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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 economy negatively while state leaders now have to deal with multiple issues. Economic instability has been around longer than initially expected by G8, causing various troubles to both poor and rich countries globally.
Shipping is still also clouded as world economic obscurity persists. The increasingly number of demolished overage vessels - compared to the previous year - along with the slowdown of new orders and the non-effective contracts so far, have still not managed to provide equilibrium in the market. The continuous low rates in dry sector seem to have exhausted the patience of private equity investors and all those who came in and invested aggressively the past years, aiming for quick profits. The less but although constant launches of NB units by shipbuilders combined with the fact that banks are unable to provide fair financing terms and amounts even for their good clients, adds more downward pressure on asset prices. Thus the opportune ground, for traditional and cash rich shipowners, is well maintained.
Panamaxes and Supramaxes have gained most interest followed by Handymax and lately by Handysize units. Potential candidates circulated officially or pushed privately in the market are gaining ample interest and many inspection requests. Contrary to the logical hypothesis that more buyers will increase competition and consequently prices, the offers are still ranged in extremely low levels and Sellers are usually glad to accept offers slightly lower or equal to the last dones. The still unsold M/V Front Runner ( abt 55kdwt blt 09 Mitsui, Japan) has been inspected by 8 parties. We are hearing that her owners, who aim at around USD15.0m, gathered five offers last Friday with the highest being in the region of USD14.0m. This offer is in line with the previous sale of the M/V Ultra Initiator (abt 56kdwt 2007 blt 07 Mitsui, Japan), which was sold for USD 12.7m at the end of February.
At the same time, it seems that Japanese Sellers have second thoughts. They appear quick to withdraw their vessels from the market when the offers received are not reflecting their initial price ideas. This phenomenon is rising in the very recent years and it is strange and totally opposite from the “usual” Japanese sale practices, in which they are usually described as “definite sellers”. This swift of 180 degrees in the Japanese sales mentality seems to have picked this year and has also consequently offered some very strong resistance to asset prices declining further. Some representative examples are the M/V Lowlands Queen (abt 76kdwt blt 08 Imabari), the M/V Lady Maria Louisa (abt 76kdwt blt 07 Imabari), the M/V Epson Trader (abt 82kdwt blt 07 Tsuneishi), the M/V Grace Future (abt 75kdwt blt 06 Universal), the M/V Sea of Future (abt 76kdwt blt 05 Tsuneishi) and the M/V Cymbeline (abt 73kdwt blt 01 Sumitomo), all of which were either fixed them on long T/C contracts or the selling of which was pushed to Q4 of 2015, as their respective owners hoping to achieve better prices then. If you count them, it is almost one withdrawn Panamax vessel per month.
As the end of the first half of the year approaching, we most certainly have to admit that we are a shade away from the bottom of this cycle if not already there. In fact we have been experiencing for quite some time a “Buyer’s Market”. The question we are often asked is “when” the market will start moving up and not if. What I answer is what my grandfather once told me; “do not put all your beans in the same bag”. In other words spread your acquisitions in time and not all at once.
By Konstantinos Kontomichis
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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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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- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
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