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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, 22 July 15
SHIPPING MARKET INSIGHT - PANOS TSILINGIRIS | INTERMODAL
In both bulk shipping sectors, there are certain, yet different, reasons and strategies to invest. In the wet, buy once you can charter-out long, w ...
Tuesday, 21 July 15
CHINA'S ENERGY COMMODITY IMPORTS DIVERGING - RICHARD SCOTT | HELLENIC SHIPPING NEWS
Energy commodity imports into China have grown enormously over the past decade, boosting global demand for shipping capacity. But a dramatic change ...
Tuesday, 21 July 15
FOB INDONESIA COAL SWAPS EXTEND LOSS
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and week over week, this past week. The swaps was lost 0.70%.
...
Tuesday, 21 July 15
Q4'15 FOB RBCT COAL SWAP DECLINES NEARLY 3.13 PER CENT MONTH OVER MONTH
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$ ...
Monday, 20 July 15
FOB NEWCASTLE COAL SWAP SEE FURTHER DECLINES
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery down $ 1.32 per MT (-2.89%) month over month to US$ 44.43 per mt. The swap ...
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Showing 2911 to 2915 news of total 6871 |
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- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Australian Coal Association
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Eastern Energy - Thailand
- Planning Commission, India
- PTC India Limited - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
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