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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, 21 August 14
PREDICTIONS FROM VARIOUS SHIPPERS AND MINING INDUSTRY FOR 2ND HALF YEAR AND ESPECIALLY Q4 IS POSITIVE
Handy
The activity has increased in both hemispheres this week and we see rates edging up on all trades. TA´s are now paying around 8k whic ...
Thursday, 21 August 14
SHIP OWNERS KEEP SHYING AWAY FOR NEW SHIP INVESTMENTS, OVERALL TREND IS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have remained in the sidelines of the Sale & Purchasing market for second hand vessels, during most of August, while they also slow ...
Wednesday, 20 August 14
DRY BULK MARKET TO REBOUND IN THE FOURTH QUARTER, OR NOT....- NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The projected rebound of the dry bulk market is still an elusive trend and shipbrokers and analysts are looking to identify the timing of the loomi ...
Monday, 18 August 14
CAPESIZE RATES TO RISE TO MUCH HIGHER LEVELS THIS YEAR - JEFFREY LANDSBERG
COALspot.com: Capesize rates ended last week at $15,561/day, which marked a week-on-week increase of $6,167 (66%). Capesize rates have been a ...
Monday, 18 August 14
SUB-BIT FOB INDONESIA COAL SWAP CLOSED AT $58.60 FOR SEPTEMBER 2015; UP $4 FROM SEPTEMBER 2014 CLOSING
COALspot.com: Indonesian coal swaps for average September 2014 decreased US$ 0.15 (-0.27%) day on day and US$ 0.75 (-1.36%) per mt week on week. Th ...
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- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Parliament of New Zealand
- The University of Queensland
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
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