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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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Wednesday, 17 September 14
SHIPPING MARKET INSIGHT - GEORGE LAZARIDIS
Since the onslaught of 2013 the rising tide of asset prices had been primarily driven by the increasing freight market conditions and the improving ...
Tuesday, 16 September 14
INDONESIAN GOVERNMENT DECLARED HBA SUFFERED ANOTHER SETBACK IN SEPTEMBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in September. HBA for ...
Tuesday, 16 September 14
INDONESIAN COAL OUTPUT WON'T EXCEED 421M TONS: GOVT - JP
The government is optimistic that it will meet its coal production target for this year, which caps nationwide production at a flat number compared ...
Monday, 15 September 14
CHINA'S COAL PROPOSALS LEAVE SOME HOPE FOR EXPORTERS - DAILY NEWS
When the best thing you can say about new policies is that they aren’t as bad as they could have been, then you know your industry is in deep ...
Monday, 15 September 14
SUB-BIT FOB INDONESIA COAL SWAP, JANUARY 2015 DELIVERY GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: Indonesian coal swaps for average October 2014 increased US$ 0.40 (+0.78%) day on day and US$ 0.55 (+1.08%) per mt week on week. The ...
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- SMC Global Power, Philippines
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- Larsen & Toubro Limited - India
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- Altura Mining Limited, Indonesia
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- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
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- Romanian Commodities Exchange
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- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
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- Planning Commission, India
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- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Minerals Council of Australia
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- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
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- Jaiprakash Power Ventures ltd
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
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- Eastern Coal Council - USA
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- Ministry of Finance - Indonesia
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- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Edison Trading Spa - Italy
- The University of Queensland
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- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
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- Indonesian Coal Mining Association
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- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
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- PTC India Limited - India
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
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- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
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- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
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- Georgia Ports Authority, United States
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- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
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