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.
|
|
Wednesday, 28 September 16
WITHOUT A DOUBT FREIGHT RATES HAVE MOVED UP A BIT TO HEALTHIER LEVELS - INTERMODAL
As we are approaching Q4, it is interesting to perform a review of the last nine months with respect to the second-hand prices of Supramax and Pana ...
Tuesday, 27 September 16
THE CAPESIZE RATE OF INCREASE HAS BEEN IMPRESSIVE, UP 39% W/W AND 123% MONTH TO DATE - ALLIED
The Dry bulk market has seen a rare shine in its performance as the capesize sector manages to rally at an unprecedented rate compared to its perfo ...
Monday, 26 September 16
COAL PRICES HAVE BEEN MOVING STEADILY HIGHER AFTER YEARS OF DECLINE
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Monday, 26 September 16
THE FREIGHT MARKET WAS FIRM; ALL SEGMENTS WERE UP THIS PAST WEEK
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 ...
Friday, 23 September 16
"COLLATERAL LIES" DO NOT NECESSARILY UNDERMINE AN INSURANCE CLAIM
KNOWLEDGE TO ELEVATE
An insured was not precluded from recovering under an insurance policy even though it had made a false statement during t ...
|
|
|
Showing 2271 to 2275 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Planning Commission, India
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Australian Coal Association
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Mjunction Services Limited - India
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
|
| |
| |
|
