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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, 24 August 14
SEA FREIGHT MARKETS STARTING TO LOOK POSITIVE; CAPES DRIVE FREIGHTS HIGHER
COALspot.com: The freight market has strengthen further this week with BDI up 7.19 pct week on week. The BDI was closed at 1,088 points while the B ...
Friday, 22 August 14
INDIAN IRON ORE ROYALTY RISE NOT LIKELY TO HURT STEELMAKERS' MARGINS - FITCH
Fitch Ratings does not expect an increase in India's iron ore royalty rates to have a major impact on the profitability of steel producers in t ...
Friday, 22 August 14
ARBITRATION CLAUSE IN LOU HELD TO REPLACE CHARTERPARTY ARBITRATION CLAUSE
KNOWLEDGE TO ELEVATE
The Claimants had claims for cargo damage against the vessel Owners arising under four bills of lading. The vessel was th ...
Friday, 22 August 14
ICAP ENERGY LAUNCHES GLOBAL COKING COAL DERIVATIVES TRADING
First contract completed and cleared on CME
COALspot.com: ICAP Energy, the energy business of ICAP plc, announces today that it has successful ...
Friday, 22 August 14
U.S WEEKLY COAL PRODUCTION UP 2.4% WEEK OVER WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.60 million short tons (mmst) of coal in ...
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- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Australian Coal Association
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
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