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Wednesday, 30 September 15
NEW BUILDING MARKET INSIGHT
 COALspot.com: This year has been, beyond any doubt, a rather strenuous one for the newbuilding market. Ordering activity with regards to Dry Bulkers has been severely impacted by poor freight rates and the very attractive prices at which the second hand tonnage is offered right now. Moreover, the oversupply of tonnage in the sector that is most likely to persist for some time, despite this year’s increased demolition activity, makes investment in newly constructed vessels even less attractive. Occasional spikes in freight rates are also not expected to positively affect newbuilding activity in the sector as long as market sentiment remains poor. Hence new contracts for large sized vessels are almost absent and when signed they are in the majority of the cases tied to specific projects.
On the other hand, things in the Wet sector are definitely better. Healthy rates due to a more balanced supply of tonnage and good market sentiment backed by strong market fundamentals and a sense of optimism for the future have kept newbuilding activity in the sector live and kicking. What is of significant importance is that contracting activity is observed for all vessel sizes from specialized small vessels to VLCCs, with the latter as well as MRs being very popular among owners. At the same time the trend of converting originally dry bulk orders to tanker ones has gathered a lot of momentum during the first half of the year, resulting in a further squeeze of the dry bulk orderbook and scheduled deliveries.
Given the fact that a number of shipyards have been dealing with substantially fewer orders this year when compared to 2014 it comes as no surprise that newbuilding prices have been moving south for quite some time now. We are currently standing at price levels, with minimum exceptions, below the average level of 2014 and in the case of Dry Bulk sector, very close to those in 2013, which admittedly are attractive but still fail to convince more owners to head to the yards. The aforementioned reality has led Shipyards into severe financial distress with yards in South Korea drawing up plans for restructuring to cut operational costs, while at the same time China’s shipbuilding industry have been shrinking with yards there struggling to secure orders amidst mounting economic difficulties.
The next year is not expected to hide any significant changes in the newbuilding market environment, while if the number of yards squeezes and the freight market for both tanker and dry bulkers shows a more stable picture for extended period of times, we believe that newbuilding ordering might achieve healthier volumes.
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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Monday, 05 October 15
Q1 & Q2 2016 DELIVERY SWAPS DECLINED M-M AND W-W THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $0.36 per ton (0.85%) month over month to US$ 42.12 per ton. The ...
Monday, 05 October 15
Q1' 16 CFR SOUTH CHINA COAL SWAP CLOSED US$ 48.05 PER TON
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down US$ 0.47 (0.96 %) per ton month over month.
A commodity swap is ...
Monday, 05 October 15
SMALL DECLINE IN 2014 SHIP OPERATING COSTS - MOORE STEPHENS
Total annual operating costs in the shipping industry fell by an average of 0.8% in 2014. This compares with the 0.3% average fall in costs recorde ...
Sunday, 04 October 15
THE INDO-INDIA FREIGHT MARKET REMAINS UNDER PRESSURE
COALspot.com: The BDI closed on Friday (2 Oct 2015) at 889 points, down by 54 points compared to previous Friday's closing ( 24 Sept 2015) of 9 ...
Friday, 02 October 15
COAL PRODUCTION IN THE UNITED STATES DECREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.5 million shor ...
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- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Australian Coal Association
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
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