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Wednesday, 25 May 16
DRY BULK SNP MARKET DISPLAYS SIGNS OF STRENGTH - GEORGE ILIOPOULOS
 Only a couple of weeks away from the world’s most prominent maritime event, the market for tankers displays an evident lack of confidence in regards to future prospects, hence buying interest remains particularly reserved. The number of inspections that takes place at the moment is fairly limited, while comparing recent sales of VLCC tonnage to similar sales that took place towards the end of last year, we see that prices are roughly 15% down. With the exception of a few specific deals involving VLCC and Suezmax tonnage, buying interest over in the tanker sector mostly focuses on MR vessels, particularly those units controlled by financiers, while except from the lack of confidence, another major issue that weighs down on SnP activity is the big gap between price levels offered by Buyers and those that are accepted by the Sellers.
Moving on to the demolition market, prices here are also pointing down. At the same time, demo buyers are also becoming more and more reserved in their bids, while despite the fact that prices offered at the moment are without a doubt improved compared to the $220/ldt levels that the market witnessed back in February, we believe that the stability can only be achieved after budget announcements, scheduled in June, take place.
At the same time, the dry bulk SnP market displays signs of strength, with buying interest focusing mainly on Supramax and Kamsarmax tonnage built during the last decade. A representative example of this recent momentum in the market is the M/V UNITED TREASURE (82kdwt blt 06 Japan), which was inspected by more or less fifteen (!) buyers. The healthier freight market, combined with improved psychology and of course the aforementioned firming appetite by Buyers, have provided support to asset prices for vessels close to 10 years of age. We calculate this increase in the region of 15%-20% compared to price ideas for similar vessels back in the beginning of the spring season.
Similarly, buyers are also looking with increased interest tonnage built around the end of the 90’s up to the early 00’s, something that we hadn’t seen in a while as the majority of sales was mainly focusing on modern tonnage up until recently. It is mainly ships of 40,000dwt and above that are enjoying this renewed interest for older tonnage and as a result the values of these vessels have also firmed despite the fact that scrap prices offered today are $20/ldt lower than what they were a few weeks ago.
To put things in perspective, a 2000 built Handymax with SS/DD passed was sold at around USD2.9m sometime in the beginning of March and a similar ship today could easily fetch USD3.5m or more, which translates to a 21% increase. Another positive sign that comes to reinforce this reserved optimism of late is that during the past few months the number of ships sold for scrap has been particularly firm while at the same time newbuilding activity remains almost non-existent. Despite the fact that earnings have still a long way to go before reaching levels at which owners can feel less challenged, the reality is that all the developments above are displaying clearly that the market is moving towards more balanced fundamentals as the size of the size fleet is slowly getting “under control”. Given of course that global growth and consequently trade growth still face numerous challenges, it is imperative that we see more scrapping activity for longer before things balance out.
Let’s hope that the reserved optimism in the dry bulk market is not exaggerated and that the market manages to move to healthier and more viable levels sooner rather than later.
By George Iliopoulos
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 reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Tuesday, 24 May 16
WEEKLY CS COAL INDICES NEGATIVE FOR ALL TYPES OF COAL EXCEPT 3800 GAR COAL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was down 0.10 percent week over week to averaging $38.90 per ton this past week, sho ...
Monday, 23 May 16
A PERFECT STORM FOR INDONESIAN STEAM COAL EXPORTS - CLARKSON RESEARCH
Indonesia is the world’s leading steam coal exporter, accounting for over 40% of global seaborne steam coal exports since 2010. However in 20 ...
Monday, 23 May 16
THE PANAMAX INDEX WAS UP 17 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this week.
The freight market was firm and all ...
Friday, 20 May 16
SHIPBUILDING CONTRACTS: CAN I CANCEL? SHOULD I CANCEL? - THE SHIPOWNER CLUB
KNOWLEDGE TO ELEVATE
There are many circumstances in which a buyer of a new-build vessel might want to terminate or cancel their contract with ...
Friday, 20 May 16
U.S COAL PRODUCTION FOR THE WEEK ENDED 14 MAY TOTALED 11.4 MMST; UP 3.8% W/W
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.4 million short tons (mm ...
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- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
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