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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.
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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- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- The University of Queensland
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Australian Coal Association
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
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