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Tuesday, 26 August 14
DESPITE LOW DRY BULK RATES, BULKER PRICES ARE STILL HIGH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Traditionally, August tends to be a month of slow activity in the sale and purchasing market and this year has been no exception. However, as shipbroker Intermodal noted in a recent report, the month of August, while it is the quietest month of terms of ship transactions, it’s also a time very critical for the forthcoming quarter, as this is typically, a period during which the market seeks signs for the direction of asset prices.
As things stand at the moment, the future prospects of the sale and purchasing (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.
According to Intermodal’s SnP broker, Mr. Konstantinos Kontomichis, “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”, Mr. Kontomichis noted.
He added that “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 Usd 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”.
Meanwhile, according to the analyst, “on the newbuilding market, a big number of shipyards are sitting on a significant orderbook and currently don’t appear willing to proceed to heavy price discounts. Resale prices are perhaps a bit more elastic than newbuilding ones, and although they have dropped from the high levels reached earlier 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”, Kontomichis mentioned.
He went on to state that “having discussed what is going on the resale and vintage tonnage, which are heavily dependent upon newbuilding 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 newbuilding 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 Usd 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”, he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 19 September 14
PRICES FOR DRY BULK CARRIERS HAVEN'T CORRECTED ENOUGH, DESPITE LOWER THAN EXPECTED FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lot has been said and written about the looming dry bulk market recovery over the past few months. However, even if this hasn’t been materi ...
Thursday, 18 September 14
INDONESIA'S JULY COAL EXPORT VOLUME DROPPED 5.13% M-O-M
COALspot.com: Indonesia, one of the world's largest coal producer and the global leading multi grade coal exporter shipped around $1.65* ...
Thursday, 18 September 14
PANAMAX : US GULF/CHINA FRONTHAUL ARE NOW PAYING TYPICALLY 14.5K + 450K BB - FEARNRESEARCH
Handy
We still see a firming tendency in the Atlantic and it is still ECSA and USG leading on. USG/Cont now up in about USD 17/18k for a Smax whi ...
Thursday, 18 September 14
ELECTRONIC BILLS OF LADING: A GUIDE TO PAPERLESS TRADING WHICH HAS TAKEN THE SHIPPING INDUSTRY BY STORM
Bimco has recently developed and published a charter party clause that specifically addresses the use of electronic bills of lading. Increasing use ...
Wednesday, 17 September 14
PANAMAX: LIMITED INTEREST IN BOTH BASINS; RISING TONNAGE - INTERMODAL
With the week starting off at a fast pace and with the positive momentum from the previous Friday seemingly sticking around for a bit longer, most ...
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- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- PTC India Limited - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- The University of Queensland
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Minerals Council of Australia
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Australian Coal Association
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
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