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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.
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Tuesday, 26 May 15
MINING ASSOCIATION PERHAPI PUSHES FOR 35,000 MEGAWATT ELECTRICITY PROGRAM - JG
The Indonesian Mining Professionals Association, or Perhapi, has announced its support for a 35,000-megawatt national electricity program, saying i ...
Tuesday, 26 May 15
FOB INDONESIA COAL SWAP; UP WEEK OVER WEEK
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains week over week and lost month on month, this past week.
The Q3 swap was declined ...
Monday, 25 May 15
FOB NEWCASTLE COAL SWAP Q1'16 CLOSED LOWER THAN Q3'15 CLOSING
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.92 per MT (2.07%) month over month and US$ 0.70 week on week. ...
Monday, 25 May 15
CFR SOUTH CHINA COAL SWAP : Q3, Q4'15 & Q1'16 INCREASED M-O-M AND W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery up US$ 1.55 (3.09%) per MT month over month and US$ 0.72 (1.41%) pe ...
Sunday, 24 May 15
INDONESIA TO INDIA PANAMAX CHARTER RATES WERE RATING AT AROUND US$ 5500
COALspot.com: The freight market softened in all segments this past week.
The BDI was dropped 7.57 percent week over week and closed at 586 po ...
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Showing 3006 to 3010 news of total 6871 |
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- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- VISA Power Limited - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- London Commodity Brokers - England
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- The University of Queensland
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Australian Coal Association
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
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