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which renders them more aggressive in securing tonnage in a market that had already seen a number of candidates being withdrawn.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, 22 January 19
AUSTRALIA'S YANCOAL PRODUCED 50 MMT SALEABLE COAL IN 2018 UP 59 PER CENT ON THE YEAR PRIOR, THE QUARTERLY REPORT SHOWS
According to the report, the miner's quarterly (Q4' 18) saleable coal production of 12.4 Mmt. Includes 10.5 Mmt (85 per cent) from the Comp ...
Monday, 21 January 19
KOSPO INVITING BIDS FOR 320K MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 3,800 kcal/kg NCV low calo ...
Monday, 21 January 19
SUPRAMAX: INDONESIAN COAL RUNS, TONNAGE WAS GIVING APS DELIVERIES AND A 57,000DWT SHIP FIXED AT $7,000 FOR A TRIP TO WEST COAST INDIA - BALTIC BRIEFING
Capesize
A positive end to a week that saw rates on the West Australia/China run slip below $6.00, as charterers faced a plentiful supply ...
Monday, 21 January 19
HARD COAL WORLD TRADE IN 2018 RISES BY 3.7 PER CENT; GLOBAL HARD COAL PRODUCTION INCREASES BY 1.7 PER CENT - VDKI
Global Hard Coal Production Increases By 1.7%.
According to provisional calculations by the German Coal Importer Association (VDKi), ...
Sunday, 20 January 19
OIL MARKET REPORT: A MARATHON, NOT A SPRINT - IEA
Last month, we asked if there was a floor under prices following the signing of a new Vienna Agreement that aims to re-balance the oil market. Foll ...
|
|
|
Showing 1486 to 1490 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- The University of Queensland
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
|
| |
| |
|
