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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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Tuesday, 09 September 14
WEAK M&A DESPITE ABUNDANT DISTRESSED INDONESIA COAL ASSETS - FITCH RATINGS
COALspot.com: Fitch Ratings says that a meaningful level of merger and acquisition (M&A) activity leading to a consolidation of the coal sector ...
Tuesday, 09 September 14
PORT OF NEWCASTLE SHIPPED 13.207 MTN OF COAL IN AUGUST; TRADE VALUE AROUND $1.17 BILLION
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.17 billio ...
Monday, 08 September 14
SUB-BIT FOB INDONESIA COAL SWAP UNDERPERFORMED LAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.20 (-0.39%) day on day and US$ 1.60 (-3.04%) per mt week on week. The ...
Monday, 08 September 14
API 8 CFR SOUTH CHINA COAL SWAP FOR DELIVERY JAN'15 CLOSED AT US$ 66.30 PMT W/E 5 SEPTEMBER 2014; LOST 5.15% M-O-M
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 0.15 (-0.23%) day on day and US$ 2.05 (-3.04%) week on wee ...
Monday, 08 September 14
CHINESE IRON ORE IMPORT DEMAND VERY STRONG - COMMODORE
COALspot.com: 30 dry bulk vessels were chartered in the spot iron ore market last week to haul iron ore import cargoes to Chinese buyers.
Acco ...
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- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Planning Commission, India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- White Energy Company Limited
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
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