We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 10 February 16
OWNERS APPEAR WILLING TO DISPOSE OF TONNAGE THE SOONEST IT HITS THE 10 YEAR MARK - TIMOS PAPADIMITRIOU
 COALspot.com: The last two months of 2015 made a case for traditional shipowners to invest in the dry bulk sector, doing so though based purely on asset prices and not on market conditions. Today, three months later and with fewer vessels in the market, buying appetite seems to be subdued but not extinguished.
We are witnessing buyers still willing to inspect and offer on modern vessels, while once more we witness strong preference to Japanese built tonnage. Market expectations may not have changed dramatically when compared to three months ago, but what appears to be different today is that shipowners are letting the sour feeling to finally sink in.
As these lines are written the festivities for the Chinese New Year are taking place and are bound to depress the market even more. A couple months down the line, the closing of the Japanese fiscal year coupled with all the scheduled deliveries, are expected to also help shape the dry bulk asset scene for the rest of the year.
Although it seems that the perfect storm is brewing in the dry sector, the future holds surprises and if there is one thing we‘ve learnt from market cycles, it’s that things don't always go as expected. For now we can only wait and hope that the Monkey – 2016 being its year - will give its blessing.
At the same time, moving on to tankers, the picture is rather blurry and unclear. It seems that the market is waiting for some sort of downward correction to take place, although the wishful thinking that earnings will stay at healthy levels is unsurprisingly in the mind of all market participants. As there is too much analysis and many predictions out there for oil prices as well as the effect that Iranian production entering the global stage will have, I will only focus on current assets prices.
The asset market is flooded with ships. Piles of MR, AFRAs and VLCCs are being stacked, ranging mostly from early to mid-2000. On average and at any given time there are more than 40 vessels for sale on every segment with Korean built tonnage dominating the lot.
Owners appear willing to dispose of tonnage the soonest it hits the 10 year mark. These ships still make money to their owners and even though they put the “for sale” sign on them, they don't seem to be willing to part ways easily. The average price a Seller is asking for a 10 year old MR1 built in Korea is around USD 18 million. To put things into prospective, one can buy 2 x Japanese Kamsarmaxes, a year younger, and be left with more than 3 million to burn on subsidizing them for the next couple of years. Of course the MR is making money compared to the Kamsarmaxes that are currently bleeding cash. Nonetheless this just sums up the contradiction.
Some might say that the current picture of the tanker market is rather similar to the picture of the Bulk Carrier market back in 2006 when the market had been rising for more than two years and in everybody's mind a decline was due. Again many rushed to sell. The rest is history.
Don't get me wrong, I am not trying to argue anything. The point is to remotely try and make sense of what is going on. History repeats its self but this is not always the case. One thing is certain though and this is that history has a strange sense of humor. In 2016 players will have to find the silver lining between a cheap investment and a cash flow that allows you to survive.
By Timos Papadimitriou
SnP 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.
|
|
Monday, 08 February 16
DRY-BULK SHIPPING DIVING DEEP
COALspot.com: The freight markets continued to fall this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of glo ...
Monday, 08 February 16
DRY BULK: SHIPBROKER SEES BDI MARKET REACHING LOW POINT OF 236 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The endless pit that is the dry bulk market over the past two months, has been the issue of debate among ship owners, shipbroker and analysts alike ...
Friday, 05 February 16
COAL INDIA EYES COAL MINES IN SOUTH AFRICA - PTI
“Coal India Ltd has plans of acquiring coal mines in South Africa,” an official said. It is looking at acquiring mines in partnership w ...
Friday, 05 February 16
U.S. WEEKLY COAL OUTPUT ROSE 4.2% TO 13.6 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.6 million shor ...
Thursday, 04 February 16
CAPESIZE: WEST AUSTRALIAN TO CHINA HAS BEEN CONCLUDED AT US$ 2.85 PMT AND THE C3 MARKET REMAINS INACTIVE - FEARNLEYS
Capesize
As everyone is getting ready for the Chinese new year, already depressed rates are under further pressure.
According to Fearnleys, ...
|
|
|
Showing 2571 to 2575 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
|
| |
| |
|
