We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 06 March 19
SHIPPING MARKET INSIGHT - INERMODAL
 In a downward moving market, softer SnP activity is usually a given, as the gap between Sellers’ and Buyers’ ideas widens, especially when the drop in rates takes place in a relatively short period of times, which was the case recently. Aside from the levels of the market and the respective number of deals as this is depicted in the table below, what might be even more interesting to look at is whether in these cases asset prices also moved in tandem with SnP activity and to what degree.
In the case of the 28kdwt Japanese Handy, the number of sales during the first two months of 2017 was more than double compared to the same period this year. Two years ago a 2006 built vessel was valued at high USD 5 million, while the same amount of money will today get you a 2004 built vessel –four years older – even though the BHSI is around the same levels.
As far as Supramax SnP ytd activity is concerned, this is decreased around 30% compared to 2017, while prices are today at relatively higher levels. Indeed, a 57k dwt 2011 Chinese built vessel was valued at around mid- USD 9 million back then, while a 57k dwt 2011 Chinese built Supra was fixed today for high- USD 9 million.
The fact that a very bad year preceded Q1 2017 certainly allowed for more deals back then, with Buyers being hungry for tonnage, after the market had finally started to move up, and Sellers being “exhausted” following many challenging months and ready to accept lower levels. In trying to offer an explanation for the price resistance one could say that Buyers could be already cashing in an extended recovery in rates (after all earnings have already been improving for all other sizes but Capes), which renders them more aggressive in securing tonnage in a market that had already seen a number of candidates being withdrawn.
So the anxiety that this could be a window of opportunity to invest that could be soon closing as the market recovers plays a significant role in supporting asset prices. Many are indeed expecting that prices will not adjust accordingly to today’s rates and that positive freight performance from a point onwards will eventually result in even higher prices, which in retrospect will render todays levels as the window of opportunity. So maybe it is time to redefine what “window of opportunity” means and whether this is a short term correction in prices compared to the very recent past or a longer period during which asset prices align with earnings.
By Nassos Soulakis
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
George Panagopoulos
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.
|
|
Tuesday, 15 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country's Co ...
Monday, 14 October 19
WINTER OIL MARKET OUTLOOK - OPEC
Product markets in the last two months have benefitted from seasonal maintenance which have led to a tighter product market environment, providing ...
Sunday, 13 October 19
INDONESIA: PANAMAX VESSELS OPEN SOUTH CHINA WERE REPORTEDLY FIXED AT $14,000 LEVEL, WITH REDELIVERY BACK IN CHINA - BALTIC BRIEFING
Capesize
The Capesize market managed to find a floor and rally a little this week after several weeks of declines. While the West Australia to ...
Friday, 11 October 19
INDIAN MINERS REJECT PLAN TO LINK NATIONAL COAL INDEX TO FOREIGN PRICES - REUTERS
India’s miners are rejecting a government proposal to establish a national coal index that would be linked to international prices, documents ...
Friday, 11 October 19
THE OCTOBER BENCHMARK PRICE OF INDONESIAN THERMAL COAL DECLINES TO LOWEST SINCE OCTOBER 2016
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
|
|
|
Showing 1316 to 1320 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
|
| |
| |
|
