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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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Friday, 17 July 15
DO CANCELLATION RIGHTS UNDER VOYAGE CHARTERPARTY SURVIVE RE-NOMINATION OF LOAD PORT? - INCE&CO
KNOWLEDGE TO ELEVATE
Do cancellation rights under voyage charterparty survive re-nomination of load port?
St Shipping & Transport Inc ...
Thursday, 16 July 15
INDONESIA'S HBA HITS ALL-TIME LOW OF $59.16 PER METRIC TON IN JULY 2015
COALspot.com - The Director General of Mineral and Coal of Indonesia revised down Indonesian coal benchmark price once again to US$ 59.16 pe ...
Thursday, 16 July 15
FOB RICHARDS BAY COAL SWAPS DECLINE W-O-W, M-O-M
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$ ...
Wednesday, 15 July 15
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
The last few weeks have been rather strenuous for Greece and China, each for their own reasons, affecting most markets around the world. In Greece ...
Wednesday, 15 July 15
IRAN OIL RECOVERY TO TAKE YEARS, BUT COULD START IN 2016 - FITCH
Iranian crude oil production is likely to increase in 2016 but will take a number of years to reach its previous peak, Fitch Ratings says.
The ...
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Showing 2921 to 2925 news of total 6871 |
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- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Eastern Energy - Thailand
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Australian Coal Association
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
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