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which renders them more aggressive in securing tonnage in a market that had already seen a number of candidates being withdrawn.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.
|
|
Friday, 12 April 19
OFFSHORE MENA CONGRESS 2019
Offshore MENA Congress 2019
Event Date : 11-12th Jun. 2019
Location : Cairo, Egypt
Offshore MENA Congress 2019 Offshor ...
Friday, 12 April 19
U.S : MORE THAN 7 GW OF COAL-FIRED GENERATION IS SCHEDULED TO RETIRE BY THE END OF 2020 - EIA
EIA estimates that U.S. coal production decreased by 19 million short tons (MMst) (2%) in 2018, totaling 756 MMst.
EIA also expects ...
Friday, 12 April 19
GLENCORE WINS $520 MILLION DEAL TO SELL COAL TO MEXICO - REUTERS
Global trader Glencore has won contracts worth around $520 million to supply 4.94 million tonnes of coal to Mexico, state-run power utility the Fed ...
Thursday, 11 April 19
AUSTRALIAN COAL IN THE FRONTLINE OF CHINA'S SUPPLY GLUT - AUSTRALIAN FINANCIAL REVIEW
Australian coal will be hardest hit as China cuts foreign imports of its key energy source to tackle oversupply, and implements policies favouring ...
Wednesday, 10 April 19
COALTRANS ASIA - TAKE PART IN THE LARGEST COAL EVENT IN THE WORLD!
Take part in the largest coal event in the world!
Coaltrans Asia is back this June bringing together the entire international coal s ...
|
|
|
Showing 1421 to 1425 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Australian Coal Association
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- VISA Power Limited - India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
|
| |
| |
|
