We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 14 September 16
THE DRY BULK MARKET REACHED LEVELS LAST SEEN BACK IN 2015 - INTERMODAL
 In an earlier column we commented that we are undergoing “shipping’s new (ab)normal” with constrained financing, shift in demand growth/patterns, and deflation in asset prices. And how prevalently this deflation has already manifested in newbuilding prices! In real dollar terms, we are currently at historic all-time lows!
In regards to dry bulkers, there is essentially no newbuilding market due to the steep discount of newbuilding resales versus ‘new’ newbuilding contracts. For example, Chinese Cape resales stand at rgn $33m while no yard can quote less than low $40m’s for newbuilding. Newbuilding prices are well into all-time inflation-adjusted lows. For instance, in 1985 at the absolute nominal nadir, Panamax Bulker newbuildings could be contracted at $13.5m which translate at $30.2m today’s dollars. This is low enough for investing because it is substantially below the true cost of creating the underlying asset and the current NB resale prices benchmark a nominal 15-year low vs newbuilding prices, a metric that appears unbeatable for several investments including shipping.
Tanker newbuilding prices are also depressed but at least there is a thin market with several LOIs placed and fewer actual contracts. Interestingly, in nominal terms we are well below the 2012 lows, one of the worst tanker freight years in modern history. This can be attributed to the deteriorating lack of financing and outlook on the segment. Tanker newbuildings will eventually become a buying opportunity since second hand vessel prices have been correcting but not any close to the dry bulk levels (the last is tanker owners’ worst fear).
Shipbuilding prices are moving towards the bottom while will remain low for some time -unless something spectacular occurs in the freight market- due to government subsidies, over-competition, low commodity prices, currencies devaluations, lack of financing and the yards resolution to accept loss-making orders to keep the production line going. On the other hand, the substantial downsizing of shipbuilding overcapacity, the emergence of government-backed NB contracts, certain attempts to cartelize pricing (see, Korea) and regulatory developments constitute major resistance levels.
All in all, the prevailing dry bulk newbuilding resales represent an attractive entry point. The ongoing correction in tanker newbuilding prices, which are already well-below the 2002 crashed prices in real dollars, will eventually lead to excellently timed orders. Hopefully over-ordering this time will be avoided thanks to lack of financing and the recent/ongoing traumas.Chartering (Wet: Stable +/ Dry: Firm +)
With a lot of help from Capes last week, the dry bulk market reached levels last seen back in 2015. The BDI closed today (13/09/2016) at 796 points, down by 8 points compared to yesterday’s levels (12/09/2016) and an increase of 51 points when compared to previous Tuesday’s closing (06/09/2016). Despite the fact that earnings kept witnessing pressure in some cases, activity for the crude carriers remained healthy, fact that will act as a meaningful support in the following days. The BDTI on Monday (12/09/2016) was at 543 points, an increase of 26 points and the BCTI at 402, a decrease of 32 points compared to last Tuesday’s (05/09/2016) levels.
By Panos Tsilingiris
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.
The 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.
|
|
Thursday, 15 September 16
INDONESIA MAY FACE A COAL CRISIS BY 2035!
COALspot.com: Indonesia is the world’s fourth-largest coal producer and the world’s largest thermal coal exporter may face a coal crisi ...
Thursday, 15 September 16
CAPESIZE: LAST WEEK ENDED ON A VERY STRONG NOTE MAINLY DRIVEN BY A ACTIVE BRAZIL MARKET - FEARNLYS
Supramax
With holidays in the eastern hemisphere beginning this week, the sentiment and activity level has been decreasing.
In the Pacific, ...
Wednesday, 14 September 16
THE PORT OF NEWCASTLE SHIPPED 12.48 MMT OF COAL IN AUGUST; AVERAGE SELLING PRICE WAS $AU 83.33
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU $1,040.4 ...
Tuesday, 13 September 16
CAPESIZE: BIG STRENGTH SEEN IN THE MARKET THIS WEEK - ALLIED
Capesize - Big strength seen in the market this week, with an upbeat in sentiment amongst owners helping pull up rates fairly quickly and many hold ...
Monday, 12 September 16
THE CAPE MARKET HAS GAINS ON WEEK; THE CAPE INDEX SETTLING AT 1566 POINTS ON FRIDAY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week. The BD ...
|
|
|
Showing 2286 to 2290 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
|
| |
| |
|
