COALspot.com keeps you connected across the coal world

Submit Your Articles
We welcome article submissions from experts in the areas of coal, mining, shipping, etc.

To Submit your article please click here.

International Energy Events


Search News
Latest CoalNews Headlines
Wednesday, 22 July 15
SHIPPING MARKET INSIGHT - PANOS TSILINGIRIS | INTERMODAL
Intermodal LogoIn both bulk shipping sectors, there are certain, yet different, reasons and strategies to invest. In the wet, buy once you can charter-out long, while in the dry go long on chartering-in or buy and wait.

In the wet sector, buying a 5-year old Tanker and chartering it out for 3-years would return back a significant part of the investment, namely, 35-40% in all sectors from MR to VLCCs. The Price to 1-year Earnings(annualized 3-year T/C Revenues minus OPEX) ratios for all tanker sectors are in the region of 7.45 and 8.63, well below the several last years’ averages, which renders investments with fixed charters attractive. The anticipated correction in product tankers due to the significant deliveries did not materialize with the demand absorbing the supply. At the same time, the crude sector enjoys the strongest freight market since 2008-09. 15-year old VLCCs, which had reached valuations below $20m in 2012/13 are today valued double that price at shy/rgn $40m. However, the crude tanker order book is increasing and the challenging conditions for shipyards may tempt them to lower/control their prices further to get more new building orders. So, the implied strategy for tankers is buy if you can charter-out long-term at the current firm rates.

In the dry sector, Messrs. Fredriksen, Embiricos, Chandris, Angelicoussis, Martinos extended family, Prokopiou, Hadjiyiannis (Cyprus) are just a few amongst distinguished counter-cyclical peers who have made decisive moves during this 1st half. 15-yo Capes were sold in the $9m’s, about one third of the price paid 15 months earlier.

Interestingly, in the last couple of weeks, prices for modern Kamsarmaxes have increased almost 10% for the first time since March 2014 while competition and the number of inspecting parties is rising. Meantime, the BDI has more than doubled since February’s historical lows. The record scrapping of the 1st half and the limited new building orders during the last year point to an eventual recovery. The short term momentum for asset values is rosy, while the longer (3-year) t/c rates remain extremely depressed and represent a promising alternative vehicle of investment although the owners willing to charter-out on a long basis are scarce.

Finally, we have calculated the ratios of the Price of a 5-year old vessel over its 1-year earnings. We used 3-year T/C rates (on an annualized basis) to remove excess ‘noise’ and since both asset values and longer-T/C rates incorporate certain (ir-)rational expectations. No strong pattern was revealed. Still the strongest incentive to invest is ‘buy as low as it gets’ even if the underlying freight market is depressed or ‘buy and fix long’ when P/E’s are low.
By Panos Tsilingiris
SnP/Newbuildings Broker

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.


If you believe an article violates your rights or the rights of others, please contact us.

Recent News

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 ...


Monday, 20 July 15
CFR SOUTH CHINA COAL SWAPS GAIN WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 1.18 (2.27%) per MT month over month. A commodity swap ...


   581 582 583 584 585   
Showing 2911 to 2915 news of total 6871
News by Category
Popular News
 
Total Members : 28,659
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

  • Petrosea - Indonesia
  • Aditya Birla Group - India
  • Renaissance Capital - South Africa
  • Jindal Steel & Power Ltd - India
  • Alfred C Toepfer International GmbH - Germany
  • Inspectorate - India
  • Wilmar Investment Holdings
  • Star Paper Mills Limited - India
  • Carbofer General Trading SA - India
  • Peabody Energy - USA
  • PowerSource Philippines DevCo
  • Japan Coal Energy Center
  • London Commodity Brokers - England
  • Marubeni Corporation - India
  • AsiaOL BioFuels Corp., Philippines
  • Indonesia Power. PT
  • Bangladesh Power Developement Board
  • Electricity Generating Authority of Thailand
  • Reliance Power - India
  • Neyveli Lignite Corporation Ltd, - India
  • Ernst & Young Pvt. Ltd.
  • Coalindo Energy - Indonesia
  • Indian Energy Exchange, India
  • Coal India Limited
  • Semirara Mining Corp, Philippines
  • Orica Australia Pty. Ltd.
  • Interocean Group of Companies - India
  • TNPL - India
  • BNP Paribas - Singapore
  • Siam City Cement - Thailand
  • Coaltrans Conferences
  • Parliament of New Zealand
  • McConnell Dowell - Australia
  • Anglo American - United Kingdom
  • Idemitsu - Japan
  • CESC Limited - India
  • OPG Power Generation Pvt Ltd - India
  • Vijayanagar Sugar Pvt Ltd - India
  • bp singapore
  • Maharashtra Electricity Regulatory Commission - India
  • Videocon Industries ltd - India
  • IEA Clean Coal Centre - UK
  • Deloitte Consulting - India
  • Cigading International Bulk Terminal - Indonesia
  • SUEK AG - Indonesia
  • Heidelberg Cement - Germany
  • Banpu Public Company Limited - Thailand
  • Mercator Lines Limited - India
  • Coeclerici Indonesia
  • European Bulk Services B.V. - Netherlands
  • Pendopo Energi Batubara - Indonesia
  • Borneo Indobara - Indonesia
  • Oldendorff Carriers - Singapore
  • Leighton Contractors Pty Ltd - Australia
  • Credit Suisse - India
  • Directorate General of MIneral and Coal - Indonesia
  • SN Aboitiz Power Inc, Philippines
  • RBS Sempra - UK
  • Georgia Ports Authority, United States
  • Shree Cement - India
  • Jorong Barutama Greston.PT - Indonesia
  • Thai Mozambique Logistica
  • Mintek Dendrill Indonesia
  • NTPC Limited - India
  • Savvy Resources Ltd - HongKong
  • Cemex - Philippines
  • Sindya Power Generating Company Private Ltd
  • PLN Batubara - Indonesia
  • IOL Indonesia
  • Madhucon Powers Ltd - India
  • Bangkok Bank PCL
  • KPCL - India
  • Mjunction Services Limited - India
  • Fearnleys - India
  • The Treasury - Australian Government
  • Vitol - Bahrain
  • Central Electricity Authority - India
  • SGS (Thailand) Limited
  • JPMorgan - India
  • JPower - Japan
  • DBS Bank - Singapore
  • GMR Energy Limited - India
  • White Energy Company Limited
  • Samtan Co., Ltd - South Korea
  • ETA - Dubai
  • MEC Coal - Indonesia
  • Ministry of Mines - Canada
  • Kobe Steel Ltd - Japan
  • Siam City Cement PLC, Thailand
  • GAC Shipping (India) Pvt Ltd
  • Filglen & Citicon Mining (HK) Ltd - Hong Kong
  • ASAPP Information Group - India
  • Moodys - Singapore
  • Bank of Tokyo Mitsubishi UFJ Ltd
  • International Coal Ventures Pvt Ltd - India
  • ICICI Bank Limited - India
  • Coastal Gujarat Power Limited - India
  • Indika Energy - Indonesia
  • Cement Manufacturers Association - India
  • Arch Coal - USA
  • Krishnapatnam Port Company Ltd. - India
  • Clarksons - UK
  • Xstrata Coal
  • Manunggal Multi Energi - Indonesia
  • EMO - The Netherlands
  • Global Coal Blending Company Limited - Australia
  • Eastern Energy - Thailand
  • TRAFIGURA, South Korea
  • Lafarge - France
  • GN Power Mariveles Coal Plant, Philippines
  • New Zealand Coal & Carbon
  • Tamil Nadu electricity Board
  • Indo Tambangraya Megah - Indonesia
  • World Coal - UK
  • Meralco Power Generation, Philippines
  • Independent Power Producers Association of India
  • Price Waterhouse Coopers - Russia
  • Simpson Spence & Young - Indonesia
  • Rashtriya Ispat Nigam Limited - India
  • Holcim Trading Pte Ltd - Singapore
  • UBS Singapore
  • Pinang Coal Indonesia
  • Total Coal South Africa
  • Energy Development Corp, Philippines
  • Indonesian Coal Mining Association
  • Gujarat Mineral Development Corp Ltd - India
  • Shenhua Group - China
  • Argus Media - Singapore
  • Kohat Cement Company Ltd. - Pakistan
  • Adani Power Ltd - India
  • KPMG - USA
  • TeaM Sual Corporation - Philippines
  • Vedanta Resources Plc - India
  • Attock Cement Pakistan Limited
  • Binh Thuan Hamico - Vietnam
  • MS Steel International - UAE
  • Core Mineral Indonesia
  • Standard Chartered Bank - UAE
  • Sarangani Energy Corporation, Philippines
  • Dr Ramakrishna Prasad Power Pvt Ltd - India
  • Maruti Cements - India
  • Intertek Mineral Services - Indonesia
  • Semirara Mining and Power Corporation, Philippines
  • Meenaskhi Energy Private Limited - India
  • Panama Canal Authority
  • Coal and Oil Company - UAE
  • Samsung - South Korea
  • PTC India Limited - India
  • VISA Power Limited - India
  • EIA - United States
  • Romanian Commodities Exchange
  • Noble Europe Ltd - UK
  • Adaro Indonesia
  • PetroVietnam Power Coal Import and Supply Company
  • GNFC Limited - India
  • BRS Brokers - Singapore
  • McKinsey & Co - India
  • Orica Mining Services - Indonesia
  • Asian Development Bank
  • Antam Resourcindo - Indonesia
  • Goldman Sachs - Singapore
  • Cargill India Pvt Ltd
  • Essar Steel Hazira Ltd - India
  • Xindia Steels Limited - India
  • PNOC Exploration Corporation - Philippines
  • ACC Limited - India
  • Bank of China, Malaysia
  • Qatrana Cement - Jordan
  • Billiton Holdings Pty Ltd - Australia
  • Barclays Capital - USA
  • Enel Italy
  • KEPCO - South Korea
  • Humpuss - Indonesia
  • Wood Mackenzie - Singapore
  • Kideco Jaya Agung - Indonesia
  • TGV SRAAC LIMITED, India
  • Sakthi Sugars Limited - India
  • Toyota Tsusho Corporation, Japan
  • PLN - Indonesia
  • Geoservices-GeoAssay Lab
  • OCBC - Singapore
  • Central Java Power - Indonesia
  • Larsen & Toubro Limited - India
  • Rio Tinto Coal - Australia
  • Truba Alam Manunggal Engineering.Tbk - Indonesia
  • India Bulls Power Limited - India
  • Mitra SK Pvt Ltd - India
  • Mitsui
  • Trasteel International SA, Italy
  • ANZ Bank - Australia
  • Iligan Light & Power Inc, Philippines
  • Bhoruka Overseas - Indonesia
  • LBH Netherlands Bv - Netherlands
  • Global Business Power Corporation, Philippines
  • Bulk Trading Sa - Switzerland
  • Petrochimia International Co. Ltd.- Taiwan
  • Metalloyd Limited - United Kingdom
  • The State Trading Corporation of India Ltd
  • Baramulti Group, Indonesia
  • PetroVietnam
  • Thriveni
  • Russian Coal LLC
  • Bukit Baiduri Energy - Indonesia
  • Bank of America
  • Sucofindo - Indonesia
  • Merrill Lynch Bank
  • Glencore India Pvt. Ltd
  • Salva Resources Pvt Ltd - India
  • Uttam Galva Steels Limited - India
  • Edison Trading Spa - Italy
  • SRK Consulting
  • Vale Mozambique
  • Makarim & Taira - Indonesia
  • San Jose City I Power Corp, Philippines
  • Indian Oil Corporation Limited
  • Aboitiz Power Corporation - Philippines
  • Ministry of Finance - Indonesia
  • IHS Mccloskey Coal Group - USA
  • IMC Shipping - Singapore
  • Sojitz Corporation - Japan
  • Miang Besar Coal Terminal - Indonesia
  • Kartika Selabumi Mining - Indonesia
  • South Luzon Thermal Energy Corporation
  • Indorama - Singapore
  • Kepco SPC Power Corporation, Philippines
  • Britmindo - Indonesia
  • UOB Asia (HK) Ltd
  • Mercuria Energy - Indonesia
  • CNBM International Corporation - China
  • Kobexindo Tractors - Indoneisa
  • Berau Coal - Indonesia
  • TNB Fuel Sdn Bhd - Malaysia
  • ING Bank NV - Singapore
  • Sree Jayajothi Cements Limited - India
  • Dalmia Cement Bharat India
  • Singapore Mercantile Exchange
  • Infraline Energy - India
  • Malco - India
  • Thiess Contractors Indonesia
  • Lanco Infratech Ltd - India
  • Asmin Koalindo Tuhup - Indonesia
  • Arutmin Indonesia
  • Chamber of Mines of South Africa
  • Asia Cement - Taiwan
  • Malabar Cements Ltd - India
  • Vizag Seaport Private Limited - India
  • Platts
  • Kumho Petrochemical, South Korea
  • The University of Queensland
  • J M Baxi & Co - India
  • The India Cements Ltd
  • Sinarmas Energy and Mining - Indonesia
  • Thailand Anthracite
  • Power Finance Corporation Ltd., India
  • Ince & co LLP
  • Kaltim Prima Coal - Indonesia
  • Bhushan Steel Limited - India
  • Port Waratah Coal Services - Australia
  • Timah Investasi Mineral - Indoneisa
  • Commonwealth Bank - Australia
  • IBC Asia (S) Pte Ltd
  • Altura Mining Limited, Indonesia
  • Planning Commission, India
  • Gujarat Electricity Regulatory Commission - India
  • Australian Coal Association
  • Platou - Singapore
  • globalCOAL - UK
  • Parry Sugars Refinery, India
  • Gupta Coal India Ltd
  • Tata Power - India
  • Africa Commodities Group - South Africa
  • Offshore Bulk Terminal Pte Ltd, Singapore
  • Bukit Asam (Persero) Tbk - Indonesia
  • Petron Corporation, Philippines
  • SMC Global Power, Philippines
  • Maersk Broker
  • GHCL Limited - India
  • Mechel - Russia
  • Maheswari Brothers Coal Limited - India
  • Bharathi Cement Corporation - India
  • Ambuja Cements Ltd - India
  • Freeport Indonesia
  • Posco Energy - South Korea
  • Therma Luzon, Inc, Philippines
  • Inco-Indonesia
  • Australian Commodity Traders Exchange
  • Cosco
  • Thomson Reuters GRC
  • Kapuas Tunggal Persada - Indonesia
  • Bukit Makmur.PT - Indonesia
  • Ceylon Electricity Board - Sri Lanka
  • Tanito Harum - Indonesia
  • Agrawal Coal Company - India
  • Bayan Resources Tbk. - Indonesia
  • Barasentosa Lestari - Indonesia
  • Latin American Coal - Colombia
  • Surastha Cement
  • Karbindo Abesyapradhi - Indoneisa
  • APGENCO India
  • Pipit Mutiara Jaya. PT, Indonesia
  • Runge Indonesia
  • Cardiff University - UK
  • Karaikal Port Pvt Ltd - India
  • KOWEPO - South Korea
  • Deutsche Bank - India
  • GB Group - China
  • Cebu Energy, Philippines
  • Ministry of Transport, Egypt
  • Chettinad Cement Corporation Ltd - India
  • Coal Orbis AG
  • Ind-Barath Power Infra Limited - India
  • Rudhra Energy - India
  • Dong Bac Coal Mineral Investment Coporation - Vietnam
  • HSBC - Hong Kong
  • Globalindo Alam Lestari - Indonesia
  • World Bank
  • Minerals Council of Australia
  • Bahari Cakrawala Sebuku - Indonesia
  • Sical Logistics Limited - India
  • Riau Bara Harum - Indonesia
  • Asia Pacific Energy Resources Ventures Inc, Philippines
  • Formosa Plastics Group - Taiwan
  • Merrill Lynch Commodities Europe
  • CCIC - Indonesia
  • Permata Bank - Indonesia
  • CIMB Investment Bank - Malaysia
  • Indogreen Group - Indonesia
  • Straits Asia Resources Limited - Singapore
  • NALCO India
  • SMG Consultants - Indonesia
  • GVK Power & Infra Limited - India
  • Thermax Limited - India
  • Grasim Industreis Ltd - India
  • U S Energy Resources
  • Maybank - Singapore
  • Kalimantan Lumbung Energi - Indonesia
  • Mitsubishi Corporation
  • Directorate Of Revenue Intelligence - India
  • Electricity Authority, New Zealand
  • Jaiprakash Power Ventures ltd
  • Gresik Semen - Indonesia
  • Gujarat Sidhee Cement - India
  • Medco Energi Mining Internasional
  • CoalTek, United States
  • Eastern Coal Council - USA
  • Economic Council, Georgia
  • Indian School of Mines
  • TANGEDCO India
  • Jatenergy - Australia
  • Bhatia International Limited - India
  • SASOL - South Africa
  • Global Green Power PLC Corporation, Philippines
  • Energy Link Ltd, New Zealand
  • WorleyParsons
  • Tata Chemicals Ltd - India