We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 26 October 16
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
 If the finale of a thriller movie finds the leading actor successfully surviving after all the sacrifices he has made, the audience presumes this to be a happy ending. However, in reality the leading actor at the beginning of the plot was probably in a much better state without all these sacrifices made in order to survive. This somewhat resembles the year so far in regards to the dry bulk market. Despite the fact that in most cases rates have slowly moved above OPEX levels, the way to also cover any debt and eventually make profit is still long for most shipowners. Saying that, dry bulk owners are now in a much better state compared to the first half of the year and this also justifies those who took a more aggressive approach amidst a sharply falling market and invested in second-hand tonnage close –for many – to the absolute price bottom during q1 and q2 given the increase asset prices have been witnessing.
In the Capesize segment, the M/V Monegasque Eclat (ex - Spring Hydrangea 176k dwt 2006 Namura / Japan) was bought for $11.7m back in March and was sold for $13.5m in August, an increase of around 16%. Additionally, Stealth Maritime bought the M/V TIGERLILY (ex- C. Winner - 169k dwt 2008 Daehan / Korea) in March for a price in the region of $11.3m and sold it in August for $15.6m, an increase of 38% in just five months. Also during March, Singaporean owner Wilmar bought the M/V Ten Maru (ex-Tenshin Maru 82k 2008 Tsuneishi Zhoushan / China) for $8.0m and sold it for $11.3m a couple of weeks ago. In the Supramax sector, rumors are spreading this week that the M/V Star Manx (58k 2009 Tsuneishi Zhoushan) was sold at $12m, which is a significant premium compared to the sister vessel M/V Vinayak (ex - Caly Manx 58k 2009 Tsuneishi Zhoushan) which was sold back in June for $9.75.
Despite the substantial increase in asset values that took place after the end of the first half of the year though, one can say that price levels are still relatively low and despite the fact that competition among interested Buyers remains healthy, these Buyers nowadays demonstrate more resistance and do not in rush/panic buying. This is probably because they believe that a fundamental and meaningful recovery in earnings will only take place once global growth and trading start to accelerate and they are probably taking a more preservative approach which in terms of buying means; no rush. Additionally, with a number of big banks still looking at respective restructurings and private equity having distanced itself from shipping, finance still remains limited, which means that the number of “serious” Buyers is limited to those who have cash.
The development of the fleet could also provide some support to the market. On top of any demolition activity and slippage, starting September 2017 onwards, those vessels going through their respective dry docking will have to comply with the water ballast requirements, fact which – given the cost entailed in such compliance - should expedite the removal of an additional number of older vessels from the market. The limited ordering in the dry bulk sector, which the market has been witnessing since 2015, is also a positive driver as far as a more controlled fleet development is concerned.
Eight years following the onset of the shipping crisis back in 2008, it is not too optimistic to say that market fundamentals have finally started to slowly shift towards a more positive direction, motivating even the most conservative owners to start showing some interest in the second-hand market. With a more clear view ahead, those who were in a “wait and see” mode will most probably redirect themselves towards the “closely monitoring” or even the “inspection/buy” mode.
By TKonstantinos Kontomichis
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.
|
|
Friday, 18 November 16
U.S. WEEKLY COAL PRODUCTION TOTALS 16.8 MMST, DOWN 0.8%, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Thursday, 17 November 16
FROTHY THERMAL COAL PRICES POINT TO DOWNSIDE PRESSURES IN 2017 - FITCH
Fitch Ratings says in an Outlook Report that the Asian thermal coal industry will remain under pressure in 2017 due to more-than-adequate capacity ...
Thursday, 17 November 16
CHINA STEEL EXPORTS TO REMAIN HIGH IN 2017, FITCH SAYS
Fitch Ratings expects Chinese steel exports to remain at around 100 million metric tons (Mt) in 2017, due to flat 'apparent' consumption an ...
Wednesday, 16 November 16
SHIPPING MARKET INSIGHT
Going through a relatively interesting second half of the year so far in the ship repair sector, we are experiencing a volatile climate of differen ...
Tuesday, 15 November 16
CHINA, FOR MANY YEARS NOW HAS SERVED AS A MAJOR GROWTH ENGINE FOR ASIA - ALLIED SHIPPING RESEARCH
It’s been a turbulent couple of days after the announcement of the U.S. Presidential results in the early hours of Wednesday.
After week ...
|
|
|
Showing 2211 to 2215 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- The University of Queensland
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
|
| |
| |
|
