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which renders them more aggressive in securing tonnage in a market that had already seen a number of candidates being withdrawn.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.
|
|
Wednesday, 19 December 18
GLOBAL SHIPPING SCOUTS FOR FUTURE GROWTH - PETER SAND, BIMCO
Where do we go to find economic growth that spurs shipping demand in the next five years? According to the International Monetary Fund (IMF), we sh ...
Wednesday, 19 December 18
SHIPPING MARKET INSIGHT - INTERMODAL
As another year is coming to an end, it is interesting to look at the main shipping markets and how these performed compared to 2017.
&nb ...
Tuesday, 18 December 18
COAL DEMAND WILL REMAIN STEADY THROUGH 2023, INTERNATIONAL ENERGY AGENCY SAYS - TOM DICHRISTOPHER, CNBC
Coal consumption is on the rise but will remain roughly stable over the next five years, the International Energy Agency forecasts.
...
Tuesday, 18 December 18
DRY BULK: IN ABSOLUTE TERMS, ALL MAIN SIZE SEGMENTS SAW THEIR ACTUAL VOLATILITY FIGURES DECREASE - ALLIED
Since the beginning of 2016, when the dry bulk market reached its absolute bottom, freight rates have been ever since on an upward trajectory. Taki ...
Tuesday, 18 December 18
COAL OUTLOOK BULLISH DESPITE WEAK CHINESE IMPORT DATA - HEREN, ICIS
Coal prices may appreciate over the remainder of 2018 even despite recent data showing falling imports from the world’s largest producer and ...
|
|
|
Showing 1521 to 1525 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Planning Commission, India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
|
| |
| |
|
