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Wednesday, 18 June 14
MARKET INSIGHT - TIMOS PAPADIMITRIOU
 Back in January the expectations for Q3 and Q4 were more than great. Talks and claims for a rising BDI and a healthy market were coming from everywhere. Almost everyone believed that things were finally starting to look up for a change! Now at the half way mark of the year, it seems that the only reason to look up is to pray for a miracle. The rates are dropping and the order book seems to be rising. “Seems” being a key word here, as we all know that there is a long road between the signing of an LOI and the delivery of a ready ship.
On the asset side, particularly in the panamax sector, buyers are becoming scarce, with less and less superficial inspections compared to three months ago. It’s starting to feel like 2012 all over again, but we have a long way to go on the price front. Sellers are still resisting and as long as there are some buyers willing to inspect and offer now that the competition is minimal, prices will continue to stay buoyant.
On the boxships front and in contrast to the bulk carriers, the panamax segment is showing an upward movement despite the super sizing that has been taking place in this sector. With Panamaxes having seen such relatively cheap rates it didn’t take much from the firming West Africa trade, which has been the main charter employment lately for several panamax and wide beam panamax units and in essence has cleared up some of the excess tonnage that had accumulated in the market. How long will this continue for, is yet to be seen.
And since we started with the panamax, let’s move onto a private equity favourite, namely the LR1. The aggressive demand for modern assets (i.e. 10 year-old or younger) that still trade CPP, have pushed these ships to soar in value, reaching levels in the region of mid USD 20s million. On the other hand, older than 10 year-old ships are valued considerably less. The order book is indeed limited and with the exception of the Navig8 order, the segment could easily be labelled as “forgotten” in the Newbuilding village. Once more, this is also a case in which the freight market does not support these prices, but leaves hints and hopes for better days to come for the CPP vessels.
Looking at the NB prices for each segment, dry bulk Kamsarmaxes experienced an increase close to 15% over the last 14 months. On the container side, there is significant pressure on yards to increase prices due to their increasing operating costs, but at the same time the lack of feedback from owners has kept prices steady for the time being. On the tankers side, a respective Newbuilding rose from USD 40,5 million back in early 2013 up to over USD 47 million almost a year later.
So we have three markets and three “panamaxes” with different characteristics. The work horse of the dry market, which is close to becoming the old horse being put out to pasture, its containership counterpart that has become the new black horse and the forgotten LR1, which is making a comeback for a limited number of players. How are these ships going to hold against the rising orderbooks and the competition from their smaller and/or larger equivalents, it will be very interesting to see.
Analysts:
Mr. George Lazaridis
Ms. Eva Tzima
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.
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Friday, 02 May 14
DRY BULK MARKET SHOWING SIGNS OF COMEBACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market which has been hovering below the 1,000-point market (BDI) during the past couple of weeks, could be exhibiting signs of a s ...
Thursday, 01 May 14
INDONESIA EXPORT BAN POINTS TO QUESTIONS OVER CHINA'S LONG-TERM BAUXITE SUPPLY - WOOD MACKENZIE
China’s Bauxite demand forecast to reach 240 million tonnes by 2030
In light of the Indonesian mineral ore ban that came into force o ...
Thursday, 01 May 14
DRY BULK MARKET STILL REELING UNDER PRESSURE FROM VARIOUS FACTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's revival is still overdue, as the industry's benchmark, the BDI is still lagging below the 1,000-point mark. In fac ...
Wednesday, 30 April 14
FREIGHT MARKET FOR DRY BULKERS STILL REMAINS WEAK - INTERMODAL
One week after the Easter holiday and the celebration for the resurrection of Christ, everybody expected to see a similar sign of a revival in t ...
Tuesday, 29 April 14
Q4 SUB-BIT INDONESIA COAL SWAP CLOSED US$ 1.07 HIGHER COMPARED TO Q2 DELIVERY PRICE
COALspot.com: Indonesian coal swaps for average Q2’ 2014 gain on month and on week according to AsiaClear OTC coal swap's reports rele ...
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Showing 3726 to 3730 news of total 6871 |
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- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
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