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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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- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- PTC India Limited - India
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
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