We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Saturday, 09 January 16
BALTIC DRY INDEX SINKS 10% WEEK OVER WEEK TO AN ALL-TIME LOW OF 429 POINTS
COALspot.com: The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, decline around 10% we ...
Friday, 08 January 16
FOB INDONESIA COAL SWAP FOR DELIVERY H1'16 REMAIN FLAT AS DEMAND DROPS OFF
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month, flat week over week. The price for coal has been in a Dull Market sinc ...
Friday, 08 January 16
FOB RICHARDS BAY COAL SWAP FOR Q2'16 DELIVERY CLOSED UP $0.13 AT $45.50 PER TON
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap decline month over month and slightly up week over week.
The Q1’ 2016 FOB R ...
Friday, 08 January 16
WEEKLY US COAL PRODUCTION DECLINES 1.6% TO 11.7 MMST, SAYS EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.7million short ...
Friday, 08 January 16
DRY BULK MARKET'S CRISIS DEEPENS AS RATES ARE DROPPING TO NEW RECORD LOWS BY THE DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Just when you would think that the dry bulk market is reaching its bottom, even as it has long surpassed all-time lows, each day that passes by at ...
|
|
|
Showing 2616 to 2620 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
|
| |
| |
|
