We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 13 May 14
YET ANOTHER POSIDONIA EXHIBITION IS ON ITS WAY - INTERMODAL
 With less than a month to go before another Posidonia exhibition starts and all the parties and celebrations get under way we thought that it would be interesting to do a little comparison as to the state of the market and how things were viewed during the last Posidonia two years ago and comparatively where we find ourselves today. It has been quite a bumpy ride with many twist and turns that one might say were unexpected. Through this we found ourselves in both times of lucrative opportunities as well as times of despair. But the question remains, how have the markets faired so far and is there something positive to look forward to in the future, or putting it more bluntly is it going to be a Posidonia of smiles and parties or one of pitiful sobbing and long faces?
It seems only yesterday that Posidonia 2012 was kicking off and many could see much in the horizon to worry about and concern over. The difficulties of the Post-Financial crisis had just started their most prominent face. Freight rates had just had one of their most significant drops during the first half of the year, dropping to highly uninspiring levels (in some cases below OPEX) and staying there for months on end. The over-swollen orderbook of the past had finally caught up with us with ever more newbuildings entering active ser- vice and pushing the market into further oversupply. What’s more, is that this felt like only the begging as there was still a large number of vessels scheduled for delivery over the rest of 2012 and the majority of 2013. Ship finance had all but halted in its tracks with a number of prominent shipping banks announcing that they were putting their portfolios up for sale. And the troubles seem to not just end there. Downgrading of a series of A-list banks as well government credit ratings, continually falling economic growth figures for the global economy and no light to be seen at the end of the dark tunnel we were in. Hope was there for 2014 but it seemed such a long way away and many felt as if things would get a whole lot worse before they got better.
So what happened to all these worries and concerns in the end and what effects did they end up having for the market? The freight market continued to hold at fairly depressed levels up until early September 2012 and even then the peak period of the autumn and winter months was considerably subdued compared to other years. This lead to a series of drops in the Secondhand and newbuilding markets as Sellers and Shipbuilders started to become more realistic with regards to the prevailing market conditions. As these drops started to become ever more prominent buying activity started to peak. 2012 proved to have a higher volume in secondhand transac- tions then 2011 and with prices continuing their drop ever more buyers, who had been waiting in the sidelines with cash at hand, started to toy with the idea of acting on their instincts. We therefore found ourselves reaching the asset price lows of late 2012 and with the start of the new year a buying frenzy began. This buying frenzy was not just limited to secondhand units any more. New orders started to pie on, as many felt that by the time they would be deliv- ered there would not be a dark cloud in sight. This ever increasing interest had a strong effect on prices and although freight rates were still holding at rock bottom levels the longer term picture was looking more promising while many felt that there was a strong case for asset play. This was all up until September, were this time around the seasonal boom in the freight market was significant to such an extent that it reached levels last seen in 2010. This fed fur- ther into the buying loop push asset prices off the roof.
Come 2014 and the sentiment and optimism started to fade as the freight market started to take a hit or two. The once hopeful pro- spects of 2014 started to show a darker side. It seems as though the troubled global economy is not out of the woods yet and has several obstacles to overcome before everything is back to nice and rosy again. The strong hold of China that has been keeping the global economy in motion these past years has showed signs of strain through its troubled financing sector. Shadow financing has played a pivotal role in keeping the ball rolling in the past as we have men- tioned before and as the government starts to put pressure on this excess lending traders have found it difficult to cover their credit requirements, even backing off from trades due to lack of credit lines. All these have started to now take effect on the Sale and Pur- chase of vessels as well, with the price momentum of the past now coming to a halt and starting to show small signs of weakening.
So where do we find ourselves today? It seems that there is still a long way to go before the market finds a more stable foothold and we see the upside of the typical market cycles. Global Growth has recently been revised slightly up and it looks like the second half of 2014 will be more optimistic than the first. Nevertheless, the order- ing frenzy that took place during the past year has gradually lead to a much larger orderbook and this might put further strain on the balance between supply and demand. The much anticipated recov- ery might not be there just yet, however it looks as though we are on a good path for now and there are still plenty of opportunities to be had. Let’s hope things will only get better from here on out.
Analysts:
Mr. George Lazaridis | g.lazaridis@intermodal.gr
Ms. Eva Tzima | e.tzima@intermodal.gr
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 re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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.
|
|
Monday, 26 May 14
SUB-BIT FOB INDO COAL SWAP Q1' 15 DELIVERIES CLOSED AT US$ 59.40 PER MT
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 26 May 14
Q3 14 CFR SOUTH CHINA COAL SWAPS LOST 2.24% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 2.24 percent month on month and closed at US$ 73.88 per mt as on F ...
Monday, 26 May 14
NEWBUILDING ORDERING ACTIVITY RISES BY 78% IN DWT TONNAGE OVER THE FIRST 4 MONTHS OF THE YEARS, AS OWNERS INVEST$40.5 BN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have plunged into newbuilding orders during the first four months of the year, as overall newbuilding business ended for the first four ...
Sunday, 25 May 14
FREIGHT RATES FROM SOUTH KALIMANTAN TO EAST COAST INDIAN PORTS WERE ASSESSED AT $9.50/MT
COALspot.com: The BDI was closed at 964 points down by 6.13 pct week on week. The Cape Index was lost 172 points or 11.24% week on week and closing ...
Saturday, 24 May 14
DRY BULK MARKET'S RECOVERY IS JUST AROUND THE CORNER SAYS SHIPOWNER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the weaker than expected market sentiment in the dry bulk market over the course of the past few months, analysts and shipowners alike appe ...
|
|
|
Showing 3686 to 3690 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- Planning Commission, India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- PTC India Limited - India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
|
| |
| |
|
