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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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Sunday, 07 September 14
FREIGHT MARKET CONTINUED TO BE FIRM IN SPITE OF CAPE'S THIS WEEK'S WEAK PERFORMANCE
COALspot.com: BDI up by 0.7 pct week on week and closed at 1155 points this week. The Baltic Dry Index is a composite of three sub-indexes that mea ...
Sunday, 07 September 14
SHIPMANAGERS SUPERVISION CONTRACT FOR NEWBUILDS - BIMCO
Shipmanagers are frequently called upon by their owner clients to supervise newbuilding projects on their behalf. The scope of the manager’s ...
Saturday, 06 September 14
SLOW COAL EXPORT REGISTRATION RAISES CONCERNS - THE JAKARTA POST
Several coal mining companies have yet to receive the go-ahead from the Energy and Mineral Resources Ministry to obtain exporting licenses, leading ...
Saturday, 06 September 14
DRY BULK MARKET'S PROSPECTS ARE IMPROVING, DESPITE WEAK SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been rebounding during the past month, with the Baltic Dry Index (BDI) ended the week on a high note, reaching 1,155 points ...
Saturday, 06 September 14
INDONESIA WANTS TO REGULATE COAL DEALS - THE TELEGRAPH INDIA
Indonesia has raised concerns about suspected coal deals struck between overseas buyers and its unregistered domestic miners, the telegraph India r ...
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- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Planning Commission, India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Australian Coal Association
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- The University of Queensland
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
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