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Wednesday, 13 August 14
WEEKLY MARKET INSIGHT - KONSTANTINOS KONTOMICHIS SNP BROKER
 Being at the peak of the holiday season, August is, as usual, the quietest month in terms of snp transactions, yet it is also a time very critical for the forthcoming quarter, as the market seeks signs for the direction of asset prices. The future prospects of the snp market is currently tangled between uncertainty in both global economic conditions and geopolitics, which affect market psychology and actual trade at the same time.
Despite the fact that freight rates in the dry sector have been depressingly low during the past months, the decrease in asset prices has not been equally strong. This is because during the past six years Sellers have been trained to acknowledge volatility incurred during the smaller shipping circles and to resist in reducing their price ideas, as they wait for the recovery of the freight market in September.
As far as older tonnage is concerned, we experience a correction in values of 90's blt vessels. However, the firm demolition prices, which in India, Bangladesh and Pakistan are still at US$ high 400's per long ton, block a further correction in asset values since the “scrap age” of a vessel is being approached faster this way.
On the new-building market, a big number of shipyards are sitting on a significant order-book and currently don’t appear willing to proceed to heavy price discounts. Resale prices are perhaps a bit more elastic than new-building ones, and although they have dropped from the high levels reached ear-lier in 2014, they are still fairly stable compared to rest of the market. A representative recent example is that of a 61,000dwt Imabari Blt 2015, which was sold at usd 31.4 mill. Most notably though, the premium required for prompt deliveries is thinning due to the poor freight market.
Having discussed what is going on the resale and vintage tonnage, which are heavily dependent upon new-building and scrap prices, it is interesting to see what is happening to the "middle-aged" tonnage. The post 2000's blt ships are significantly exposed to the freight market, as new-building and scrap prices are not a critical factor in their value. Two notable snp transactions to be mentioned in the handysize market are the recent sale of M/V Atlantic Arrow (Abt 28,000dwt 2005 Blt Japan) which went for US$ 12.1m and that of the M/V Cielo Di Genova (Abt 32,300dwt / 2005 Blt Japan) which was snapped, considerably higher, for Usd 16,5 mill last December.
In the more volatile sector of Panamax, prices presented the higher correction. The M/V Ocean Lily (Abt 76,500dwt / 2006 Blt Japan) was sold in March this year at region Usd 25 mill, while the M/V Yusho Spica (Abt 76,000 dwt / 2006 Blt Japan) was sold for around Usd 20 mill 3 months later. The M/V Michele D'Amato (Abt 76.000 / 2005 Blt Japan) and the M/V Lowlands Nello were reported sold last week for USD 17.7mill and 17.2 mill respectively.
The level where the next comparable sale will be fixed, which will probably be the fresh market candidate M/V Golden Kiji (Abt 76,500dwt / 2007 Blt Japan), will be significant in terms of where the market is heading next, so remain seated with your seatbelt fastened as there might be a few more bumps ahead.
Compiled by:
Intermodal Research & Valuations
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.
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.
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Thursday, 14 August 14
INDIA'S PLAN TO START AN INFRASTRUCTURE BOOM AND TO INVEST US$ 1 TRILLION BY 2017 WILL SURELY AFFECT THE DRY BULK TRADE - FEARNLEYS
Handy
The Atlantic Supra market has continued its improving sentiment with rates climbing and TA´s are now up about US$ 900 w-o-w, said Fea ...
Wednesday, 13 August 14
WHAT DOES PROJECT CARGO REALLY MEAN TO INSURERS?
KNOWLEDGE TO ELEVATE
Richard Kamppari-Baker, claims manager of FP Marine Risks, explains the challenges of project cargo risk assessment from ...
Wednesday, 13 August 14
INDONESIAN COAL PRICE REFERENCE FALL AGAIN CLOSE TO 57 MONTHS LOWS
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price in August. HBA for the month of A ...
Monday, 11 August 14
LARGEST CHINESE TRADE SURPLUS EVER RECORDED IN JULY - BIMCO
China recorded a trade surplus of USD 47.3 billion in July 2014. The record high surplus came on the back of very strong export growth while import ...
Monday, 11 August 14
INDONESIAN THERMAL COAL SWAPS SEEING SOME POSITIVE TREND
COALspot.com: Indonesian coal swaps for average September 2014 increased US$ 0.20 (+0.36%) day on day and US$ 1.30 (+2.41%) per mt week on week. Th ...
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- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
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