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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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Tuesday, 09 June 15
FOB RICHARDS BAY COAL SWAPS DECLINED M-O-M, W-O-W
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was fell US$ ...
Monday, 08 June 15
SHIPPING FLEET GROWTH HAS STARTED TO SLOW DOWN, AS NEWBUILDINGS AMOUNT TO JUST 329 SHIPS OF ALL TYPES SINCE THE START OF 2015 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Challenging market conditions have led to the inevitable reconsideration of ship owners’ priorities. Uncertainty has been the norm over the p ...
Monday, 08 June 15
API 5 FOB NEWCASTLE COAL SWAPS ADVANCED M-O-M AND W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery increased US$ 0.65 per MT (1.44%) month over month to US$ 45.65 per mt. The ...
Monday, 08 June 15
Q3'15 CFR SOUTH CHINA COAL SWAP ADVANCED 3.51% TO $52.48 PMT THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 1.78 (3.51%) per MT month over month.
A commodity swap is a ...
Sunday, 07 June 15
PANAMAX INDEX ROSE OVER 13% THIS WEEK
COALspot.com: The freight market was up on all segments this past week. The BDI was advanced 3.56% and closed at 610 points. The Cape Index was cli ...
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Showing 2986 to 2990 news of total 6871 |
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- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- White Energy Company Limited
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
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