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Wednesday, 17 February 16
THE OWNERS FACING HISTORICAL LOW DRY BULK RATES; COAL IMPORTS TO CHINA IS STILL POINTING TO A STRONG TREND OF DECLINING CONSUMPTION
 The sharp fall in dry bulk rates that has been taking place since the end of last year and has left owners facing historical low rates for a substantial period of time, has now everyone wondering; how long can it last and what are those developments that could expedite the recovery.
According to our data for vessels above 20,000dwt, 2016 deliveries amount to 887 vessels, a scary number indeed even if one takes into account expected slippage. On the balancing side is of course demolition activity. A little less than 400 vessels were sent for scrap last year, while in the first six weeks of 2016 alone we count 83 demo sales. If scrapping activity for the rest of the year continues at this pace, demolition activity this year will easily top 2015.
Every single market participant is now anxious to see how rates will behave once the Chinese New Year festivities are over. At the same time, fundamentals for the big bulkers, the trade of which is closely tight to China, remain challenging. Chinese iron ore imports, despite reaching record levels, have been unable to help Capesize rates, while coal imports to the country are still pointing to a strong trend of declining consumption.
Lay-ups, an extreme thought not too long ago, have now become an everyday topic amongst owners. We also observe on a weekly basis that the number of 15yrs old vessels available for sale increases, while their owners are now more at ease with the idea of even selling them for scrap. Asset prices have naturally been plunging. Below are some representative example of the sharp fall.
Capesize
The “Nordtramp” - 170k dwt blt 2001 Koyo, Japan was sold last year at $17.1m, while the “Kohyohsan” - 172k dwt blt 2001 NKK, Japan was sold recently at $5.0m. Moreover, this summer we saw the “Churchill Bulker” - 179k dwt blt 2011 Hyundai, S. Korea committed in August at $37.0m, eventually failing and being sold three months later at $28.5m, 23% less. Two weeks ago the “Obelix” 180k dwt blt 2011 Imabari, Japan, was reported sold at $23.5m. Since the beginning of 2016, 22 Capesize vessels have been sold for demo, while 21 have been delivered.
Panamax
The “Thalia” - 75k dwt blt 2001 Hitachi, Japan was sold twelve months ago at $9.5m, while last week the “Cymbeline” - 73k dwt blt 2001, Sumitomo, Japan was sold at $3.3m a decrease of about 65%. The “Unity Pride” - 81k dwt blt 2011 Hyundai, S.Korea was sold at $17.6m back in April 2015. At Christmas we saw the “Archimedes” - 81k dwt blt 2011 Hyundai, S. Korea being sold at $14.5m, failing and coming up for sale once again, with interested parties not willing to offer above $12.0m. Since the beginning of 2016 a number of 33 vessels have been sold for demo, while 30 have been delivered.
It is definitely the “buy low” phase of this cycle. This of course is something that naturally leaves owners striving to survive utterly indifferent at the moment and logically so. But for the more fortunate ones, with cash to support their investment for a reasonable time, the opportunity to renew their fleet is undeniable.
By Giannis Andritsopoulos
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.
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Thursday, 28 January 16
RICHARDS BAY COAL SWAPS FOR Q1,Q2 AND Q3 DELIVERIES FIRM THIS PAST WEEK
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap rose month over month and week over week.
The Q1’ 2016 FOB Richards Bay Coa ...
Wednesday, 27 January 16
API 5 FOB NEWCASTLE COAL SWAPS CLOSE MIXED
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $1.17 per ton (3.13%) this past week compared to the sam ...
Wednesday, 27 January 16
CHINA'S STALLING ECONOMY HAS HAD A GREAT EFFECT ON VARIOUS COMMODITIES; DECREASED DEMAND DRIVING COMMODITY PRICES LOWER AND LOWER - LINOS ALEXANDROS KOGEVINAS
Having gone through the first few weeks of 2016, it’s starting to look like another challenging year is ahead of us. Hopes for a recovery in ...
Wednesday, 27 January 16
WORLD HARD COAL PRODUCTION AND CONSUMPTION DECLINE IN 2015 FOR THE FIRST TIME IN OVER A DECADE - VDKI
COALspot.com: Seaborne hard coal trade and the changes in this area were decisively affected by China and India - VDKi.
China bears the g ...
Tuesday, 26 January 16
Q3'16 CFR SOUTH CHINA COAL SWAP DROPPED BELOW $41 A TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.82 (1.94%) per ton month over month.
A commodity swap is ...
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Showing 2586 to 2590 news of total 6871 |
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- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Planning Commission, India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
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