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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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Saturday, 30 August 14
INDIAN GOVERNMENT SHOULD TAKE NOTICE: THERMAL COAL IMPORT PRICES EXTREMELY LOW - COMMODORE RESEARCH
COALspot.com: Both Indonesian and Australian thermal coal prices are at the lowest levels seen this decade, with Indonesia's monthly benchmark ...
Saturday, 30 August 14
RECOVERY IN SIGHT FOR THE DRY BULK SHIPPING MARKET - DREWRY SHIPPING CONSULTANTS
Despite weak freight rates so far this year, Dry Bulk shipping earnings are forecast to recover as demand for both major and minor bulk commodities ...
Friday, 29 August 14
U.S. WEEKLY COAL PRODUCTION DROPS 1.3 PERCENT, EIA SAYS
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Friday, 29 August 14
ADARO'S PROFITS SINK FURTHER AMID FALL IN COAL PRICES - JP
Adaro Energy, one of the country’s largest coal miners, has reported a 31 percent drop in net profit in the first half of this year as global ...
Friday, 29 August 14
CHINESE LIGNITE IMPORTS: QUANTITY OVER QUALITY? - CLARKSONS
In the first half of 2014, Chinese seaborne coal imports declined 0.4% y-o-y to 148mt, largely reflecting a 3.3% fall in imports of steam coal. Mea ...
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- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Australian Coal Association
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Planning Commission, India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
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