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Wednesday, 03 June 15
SHIPPING MARKET INSIGHT - VASSILIS LOGOTHETIS
 For some time now the Dry Bulk market has been severely affected by China’s slowing GDP growth rate that occurs in the background of increased supply of dry bulk tonnage. Daily rates for Capes are now well below $10,000 from over $200,000 in 2008, while the BCI index reached its historic low at 311 points during January 2015.
Hence, it comes as no surprise that numerous shipowners consider the demolition market as a possible solution to dispose of old large sized vessels that fail to cover their operating expenses at market’s current levels. But to conclude a perfect storm, the steel market, that is the main driving force behind prices offered by cash buyers and recycling yards for the acquisition of vintage tonnage for demolition, is currently under strong pressure as well. The latter stem from increased exports of cheap Chinese steel that is not absorbed domestically and has flooded the Indian sub-continent. Moreover, prices offered by recycling yards are also negatively affected by the large volume of bulkers that are available to be sold for scrap.
The aforementioned situation has resulted in prices offered nowadays for wet tonnage to range from 210 to 390, depending on the destination, and for dry tonnage from 210 to 370. Just a year ago prices ranged from 310 to 500 for the dry tonnage and 325 to 510 for the wet, a difference of more than 100 dollars per ltd.
Nevertheless, the situation in the Dry Bulk market for the Capes is so difficult that we have seen a large number of vessels finding their way to recycling yards even at these low price levels. In May alone, 15 Capes have been sold for scrap, while the same number of Capesize vessels went for scrap during the entire first five months of last year. This is something that generally characterizes the market as demo activity across all segments is higher to the one observed last year.
At this point in time and given the situation in the Dry Bulk market one should expect the increased trend of vintage bulkers heading for demolition to continue up to the point where the freight market reaches a more viable equilibrium regarding supply and demand of tonnage. Having in mind the large volume of the Dry sector orderbook this will definitely take some time and at the same time it will come as no surprise if current demo price levels slide further. Nonetheless, and despite any additional price softening that could be due, the demo market is expected to continue witnessing healthy activity, as long as the situation in the Dry Bulk market remains tricky.
By Vassilis Logothetis
Research Analyst
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, 29 July 15
Q4' 15 FOB RICHARDS BAY COAL SWAPS DECLINE 4.41% TO $56.52 PMT
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was down US$ ...
Tuesday, 28 July 15
INDONESIA DELAYS PLAN TO RAISE COAL ROYALTIES AMID PLUNGING PRICE - JP
The government will postpone a plan to increase royalty payments from coal miners as they are already burdened with the commodity’s plunging ...
Tuesday, 28 July 15
API 5 FOB NEWCASTLE COAL SWAP LOST M-M AND GAINED W-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery down $ 1.15 per MT (-2.51%) month over month to US$ 44.62 per mt. The swap ...
Monday, 27 July 15
KOMIPO INVITES BIDS FOR TOTAL 545,000 MT OF COAL FOR BORYEONG POWER PLANT
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to purchase total 545,000 Metric Tons (MT) of coal ...
Monday, 27 July 15
CFR SOUTH CHINA COAL SWAP WEAK M/M; FIRM W/W
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.92 (1.77%) per MT month over month.
A commodity swap ...
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Showing 2901 to 2905 news of total 6871 |
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- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- White Energy Company Limited
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
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