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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, 05 September 14
U.S. PRODUCED 19.2 MMST OF COAL LAST WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
Thursday, 04 September 14
PUNJAB STATE POWER CORPORATION LIMITED OF INDIA HAS DECIDED TO BUY IMPORTED COAL - HINDUSTAN TIMES
COALspot.com: The Punjab State Power Corporation Limited (PSPCL) has decided to buy imported coal to run its thermal plants, as reported by Hindust ...
Thursday, 04 September 14
INDONESIAN COAL MINERS MAY GET MORE TIME ON ROYALTIES - FITCH RATINGS
COALspot.com: Fitch Ratings says that coal miners in Indonesia are likely to get more time to repay the government the royalties that were set off ...
Thursday, 04 September 14
INDONESIAN COAL SWAPS SLIDE THIS PAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.90 (-1.68%) day on day and US$ 1.80 (-3.31%) per mt week on week. The ...
Thursday, 04 September 14
CAPESIZE : SENTIMENT REMAINS POSITIVE FOR Q3/Q4 - FEARNRESEARCH
Handy
The Atlantic market has experienced more activity this week. Rates for TA´s are up about 8% w-o-w, much lead by an increasing number ...
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- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
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