We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 11 March 20
SHIPPING MARKET INSIGHT - INTERMODAL
 On the 4th of September the Baltic Dry Index marked its highest level for 2019, reaching 2,518 points, while the rest of the dry indices also recorded year-high levels that week with the daily average for Capesize reaching $38,014, for Panamax 76k $ 18,116 and for Supramax $15,233.
Healthy earnings like that was exactly what was needed as the 1st half of 2019 was really bad but the SnP market failed to see increased interest for inspections of available ships and activity was kept rather low compared to what someone would expect given the spot rates at the time.
Instead of accepting offers below their expectations, most Sellers were thinking that it would be better to keep the ship and fix on period instead. And it was a valid argument since fixing on period really made sense as rates back then could cover opex, bank repayments and still allow for a good profit. As appetite for second-hand tonnage was limited, it failed to ignite competition among prospective Buyers and restricted asset values from appreciating as a result.
So the reason why we didn’t see SnP prices going up was because Buyers were reluctant to become bullish for the long run. The fact that the market was coming from a very bad 1st half of 2019 together with the low levels (far below September’s highs) FFAs for q1 –q2 2020 were indicating, scared off many Buyers and consequently denied premiums on values.
Something that no-one could predict back then was what would the effect of IMO 2020 bunkers regulation would be. The regulation that was enforced on 1st of January drove at some point the price of the new fuel to double the old fuel price (350usd/tone Vs 700usd/ton). This was at a time when the market had already corrected from the highs of September 2019 down to the 976 points (2nd of January 2020) and with the Chinese holidays just around the corner, sentiment for the first quarter of the year was already soft as soon as January kicked off and without the coronavirus dramatic spread news having hit headlines yet at that point.
Capes were the ones affected the most, with the Baltic Capesize Index turning negative for the first time ever, pushing the BDI to the lowest point for 2020 on 10th of February (411 points).
The SnP market inevitably has been affected with relatively few sales reported for ships less than 10 years old. In the Kamsarmax sector, the M/V OLYMPIC GALAXY (81K 2009 Japan)-BWTS fitted) was sold last week for USD 13,5m to Greek buyers, which represents a discount from the USD 15,65m that the M/V KM TOKYO (83K 2010 Japan) fetched in November 2019. Furthermore the M/V MEDI HONG KONG (82K 2006 Japan) was sold to Qatari buyers for USD 9,25m, whereas in September 2019 the M/V YASA NESLIHAN (82K 2005 Japan) was sold for USD 11,5m.
Despite the discounts recorded, there are not so many candidates available for sale at levels showing that Owners are willing to face last dones, with many Sellers anticipating that the market will recover sooner rather than later. Indeed, we have been seeing a positive correction for Panamax/Kamsarmax rates lately, while it remains to be seen if and when the Capesize market, which still witnesses a negative BCI, will recover.
By Costas Hardalis
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.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.
|
|
Thursday, 05 March 20
INDONESIA'S BUKIT ASAM 2019 OUTPUT RISES 10.2% Y/Y - REUTERS
PT Bukit Asam, Indonesia’s state-owned coal miner, said on Wednesday its output in 2019 rose 10.2% to 29.1 million tonnes.
Coa ...
Thursday, 05 March 20
SEEING REMOTELY - IN SAFETY: BUREAU VERITAS PERFORMS FIRST SURVEY BY DRONE - BUREAU VERITAS
Bureau Veritas Marine & Offshore (BV), a world leader in testing, inspection and certification (TIC) services has completed its first survey by ...
Wednesday, 04 March 20
AN EPIDEMIC OF UNCERTAINTY - THE CORONAVIRUS AND FORCE MAJEURE - WFW
KNOWLEDGE TO ELEVATE
Do the effects of the coronavirus give rise to legitimate force majeure claims in connection with shipbuilding contracts ...
Wednesday, 04 March 20
CHINA IMPORTED 76.8 MLN TONNES OF CRUDE OIL FOR JANUARY & FEBRUARY 2020; UP 3.4% YOY - REFINITIV | BC
The COVID-19 crisis has been gripping China already for almost two months now. It’s having a huge negative impact on the economy, and this is ...
Wednesday, 04 March 20
MARKET INSIGHT - INTERMODAL
As it was expected, the whole world has been focusing on the spread of the Coronavirus, with the fast outbreak being primarily a massive humanitari ...
|
|
|
Showing 1091 to 1095 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Planning Commission, India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
|
| |
| |
|
