We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 04 November 20
MARKET INSIGHT - INTERMODAL
 As the end of the year approaches, one would definitely notice that the newbuilding orderbook for bulk carriers is significantly smaller compared to the levels of the same period last year; a year where newbuilding orders were also down compared to the year before.
Starting with the Handysize sector, a total number of 109 units are on order compared to the 127 units for the same period last year (5% vs 4% today in terms of orderbook to fleet ratio). In the Supra-Ultra segment, 233 ships were on order last year vs 188 units until today (5% of the fleet today vs 7% the year before). Moreover, regarding Panamax-Kamsarmax front is concerned, from a total orderbook of 193 ships last year, the current one now consists of 121 ships (9% vs 5% today). Finally, the orderbook of Capes/Newcastlemax stands today at 126 units vs 201 ships during the same period last year (7% and 12% of the existing fleet respectively).
Although the slow newbuilding contracting activity is evident and welcomed by all dry bulk ship owners, it is very interesting to undergo a more detailed research of the reasons that led to the above slump of orders. Initially, the fresh capital that used to come from investors, who are not directly related to the shipping industry, has dried up. With returns falling below expectations or being negative, the appetite for participation in newbuilding projects has gradually decreased.
Another reason is the absence of a breakthrough technology that would bring a meaningful improvement in new building designs, which are pretty much the same during the past 5 years. Notwithstanding that the most important “known- unknown” is still the next modus of propulsion. As a result, the shipping industry’s “divided” view on the commercial and long-term implementation feasibility of ESG in maritime transportation remains present, with shipping participants unable to reach a consensus on what type of fuel will the next generation ships use. Hence several owners adopt a “wait and see” approach while monitoring the new developments in the sector.
In addition to the above, another important reason why newbuilding orders are low, is definitely the low price of 5-yrs old ships compared to newbuilding prices. Ship builders are more inelastic on prices compared to the prices of modern second hand units which in today’s dynamic SnP market fluctuate in line with the freight market that has been extremely volatile over the past two years. Consequently, a significant amount of SnP transactions of modern ships have materialized. Specifically, 44 ships less or equal to 5-yrs old have been sold during 2019 and 44 in 2020 so far with prices mainly trading at a discount over newbuilding prices, which is as a disincentive for owners to order new ships.
All in all, bearing in mind all the above and in combination with the current low fleet-orderbook ratio, it seems that dry bulk owners should stop worrying about the supply of new ships, and focus on how many ships exit the market for recycling. That being said, an increase in scrapping activity will definitely boost freight rates further, and a bull market might be just around the corner.
By Ilias M. Lalaounis
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.
|
|
Wednesday, 21 October 20
MARKET INSIGHT - INTERMODAL
The second wave of COVID-19 is now a reality; offices are closing again, and stricter rules and regulations are being implemented in public spaces. ...
Tuesday, 20 October 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.82 PCT - XINHUA
China Taiyuan coal transaction price index stood at 127.49 points Monday, up 0.82 percent week on week.
The index, released by China ...
Tuesday, 20 October 20
BIMCO 'SHIPLEASE' TERM SHEET - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
The ever-growing importance of sale and leaseback transactions as an alternative to financing ships by way of loan, makes ...
Friday, 16 October 20
KOMIPO ON BEHALF OF K GENCO'S INVITED BIDS FOR TOTAL 715,000 MT MIN. 5,700 NAR COAL FOR DECEMBER
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 715,000& ...
Wednesday, 14 October 20
CHINA COKING COAL FUTURES RALLY ON REPORTED BAN ON AUSTRALIA CARGOES - REUTERS
Dalian coking coal futures rallied for a sixth straight session on Tuesday after reports surfaced that China had stopped buying coal from Australia ...
|
|
|
Showing 756 to 760 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
|
| |
| |
|
