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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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Thursday, 28 August 14
PANAMAX: OWNERS CAN GET AROUND USD 16000 FOR A FRONTHAUL; PERIOD MARKET - VERY QUIET - FEARNLEYS
Handy
The activity and sentiment is improving in the Atlantic with the general TA rate is up about US$ 800 w-o-w. We see more South American carg ...
Thursday, 28 August 14
BANPU REPORTS HIGHER FIRST-HALF YEAR RESULTS FOR 2014
COALspot.com: Banpu Public Company Limited (BANPU) reports higher first half-year financial results for 2014 having its gross profit increasing 3 p ...
Wednesday, 27 August 14
FREIGHT MARKET: IS THE MARKET IN A RECOVERY MOOD? - GEORGE ILIOPOULOS
Is the market in a recovery mood?
August is typically a time when the shipping industry takes it easy… charter-ers book their requireme ...
Tuesday, 26 August 14
4TH ANNUAL ASIA NICKEL
4th Annual Asia Nickel
19-20 Nov 2014
Grand Hyatt Jakarta, Indonesia
Web Site
Asia’s Premier Nickel Conference
Regulation in ...
Tuesday, 26 August 14
GOVT ON TRACK TO LIMIT COAL OUTPUT - THE JAKARTA POST
The government has announced that it will proceed with plans to cap the production of coal next year, a move aimed not only at protecting the envir ...
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- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
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