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Wednesday, 30 March 16
VALEMAXES: THE BIGGEST NIGHTMARE OF TODAY'S DRY BULK MARKET - INTERMODAL
 At a time that Europe is still dealing with the aftermath of the terrorist attacks in Brussels our society is daily bombarded with news of terrorist-related acts in every corner of the world. While it is by no means the purpose of this column to cover such issues, it is hard to ignore the effects of such events upon our societies or the uncertainty they enforce upon the world economy –including shipping- that still fights with its own nightmares.
Let’s take the Valemaxes for example; the biggest nightmare of today’s dry bulk market.
At a time that sentiment and hard facts could not look any dimmer, it is with extreme numbness that markets received the news that Chinese shipping majors Cosco Group, China Merchants Group and ICBC Financial Leasing Co. have placed orders for 30 giant Valemax vessels that worth a combined $2.5 billion. The exact number of vessels on order varies according to different reports and whilst deliveries look set to commence in 2018, no one knows the exact schedule that has been agreed with the 4 Chinese yards that have agreed to undertake this ambitious project.
If we are to state the obvious, there is no denying that such move –originally designed to increase China’s grip on the supply side of iron ore- would put further pressure on independent shipowners amidst one of the longest ever downturns ever witnessed on the dry sector. However, instead over-dramatizing the situation let’s start looking for a silver lining in this mighty dark cloud...
Regardless of regulations about Tier III, WBTS and other emission regulations coming into forces, which surely have been accounted for into cost calculations, Vale and their partners should be taking into consideration that scrapping age for capes has already approached the 15year mark. If we assume a moderate renewal plan in place for the “overage” VLOC’s as well, then the table above will indicate that situation might not drastically worsen by the gradual introduction of VLOC’s over the next 3 years.
On the other hand, demand for coal and coal transportation –to be more specific- is on a negative trail and the importance of iron ore as a cargo is becoming integral to all cape owners/operators; hence, we expect the fight to be even harder between Capes and VLOC’s. Should Vale and their Chinese counterparts expect to see some sense out of this market, they should first ensure that scrapping intensifies and they stay true to the one principle that we need to hold for the next 3 years; NEGATIVE fleet growth.
By Christos Trageas
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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Friday, 25 March 16
DRY BULK SHIPPING FLEET WILL GROW BY 1.3% DURING 2016 - BIMCO | HELLENIC SHIPPING NEWS
The dry bulk market will keep on suffering, at least until the start of 2017 and possibly well after that, should the current balance of supply and ...
Friday, 25 March 16
U.S COAL PRODUCTION DECLINED 9.1% W/W - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.3 million shor ...
Thursday, 24 March 16
PERSISTENT OVERCAPACITY TO PROLONG CHINA'S COAL SECTOR DOWNTURN - FITCH
China's coal sector is likely to remain under pressure in the short to medium term as structural weaknesses in demand and overcapacity persist, ...
Thursday, 24 March 16
SEABORNE TRADE: CHECKING UP ON THE TRENDS - CLARKSON RESEARCH
Following a decline in 2009, seaborne trade grew on average by 4.9% p.a. in 2010-13, reflecting booming import demand in a number of key importing ...
Thursday, 24 March 16
NEWBUILDINGS' PRICES HAVE STARTED TO COME DOWN - ALLIED | HELLENIC SHIPPING NEWS
Newbuildings’ prices have started to come down, as demand has remained subdued for quite some time now. In its latest weekly report, shipbrok ...
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Showing 2506 to 2510 news of total 6871 |
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- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- SMC Global Power, Philippines
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- PTC India Limited - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Wilmar Investment Holdings
- ASAPP Information Group - India
- White Energy Company Limited
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Coal and Oil Company - UAE
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