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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.
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Wednesday, 23 March 16
THE PANAMA CANAL - WILL THE MELTING OF POLAR ICE CAPS CREATE RIVAL NAVIGATIONAL WATERWAYS THROUGH THE ARCTIC? - INTERMODAL
The Panama Canal, 102 years after its initial opening, is now about to have its expansion completed with a cost of USD5.25 Billion. It is a project ...
Tuesday, 22 March 16
FOUR NEW MARKET MEMBERS HAVE JOINED GLOBALCOAL
globalCOAL® announced yesterday that four new Market Members have joined its international trading community.
Ferrocadia DMCC is an intern ...
Monday, 21 March 16
INDONESIAN 4200 GAR COAL INDEX ROSE $0.12 OR, 0.44% WEEK OVER WEEK; INDEX CLOASED AT $27.19 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.21 percent week over week to averaging $38.90 per ton on this past Friday, ac ...
Monday, 21 March 16
THE BALTIC DRY INDEX ROSE SLIGHTLY WEEK OVER WEEK; BCI UP 11.93%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued rose this week helped by higher rates for Cape ...
Friday, 18 March 16
OUTLOOK ON GLOBAL SHIPPING SECTOR TURNS NEGATIVE AS SUPPLY-DEMAND GAP WIDENS AND EBITDA DECLINES - MOODY'S
Moody’s Investors Service (Moody’s) has changed its outlook on the global shipping sector to negative as it expects supply growth to ou ...
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Showing 2511 to 2515 news of total 6871 |
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- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- CNBM International Corporation - China
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- The University of Queensland
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
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