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Wednesday, 03 December 14
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
 The dry bulk market seems unable to turn sentiment round and is still looking for direction. The BCI's 887-point free fall last week had an obvious negative influence on the market, decelerating the “positive” movement of the other dry bulker segments. Although average freight rates have improved considerably compared to average levels of Q3, they are still well below expectations built up before the last quarter. It is clear by now that this bitter taste will usher us into the New Year as well. Under the current freight environment and with rates looking unable to bounce back up for longer periods, it seems that investment interest is scaling back currently.
In the New Building sector, the very strong 2013 in terms of orders and the equally strong beginning of this year as well, originally allowed Shipbuilders to become more relaxed as their slots were fully booked for 2015 and the 1st half of 2016. As the last quarter of 2014 is nearing to its end, the lack of demand for securing new slots and the increasing number of non-effective orders has changed sentiment dramatically though, pushing yards to become more accommodating in their price expectations and even offer substantial discounts in certain cases. As a matter of fact, Top Chinese shipyards are currently willing to offer Ultramax and Kamsarmax slots at USD 27.0m and USD 29.0m respectively, but even prices like that are considered too expensive to attract the attention of owners who could be considering a newbuilding order. In the same spirit, resale candidates are also facing lack of interest as the current freight market is not tempting enough for an owner to pay the premium.
At the same time, the downward correction of demolition prices during the past weeks by more than $50/$60 per long ton, has had an immediate effect on older assets, although given the highs demo prices reached this year, even after such corrections, the current levels of $430/$440 per long ton, offered in the Indian sub-Continent for dry bulk units are still relatively attractive. Therefore vessels built up to 1995 are currently in the market for scrap related prices, with small differentiations relative to their size, SS/DD position and delivery place. Tonnages built within the first decade of 2000 enjoy the most interest, while at the same time these vessels present heavily corrected prices, which are comparable to 2012 levels.
The softening of Japan’s currency has simultaneously brought additional sale candidates in the market, with buyers concentrating in modern Japanese built tonnage with the view that a quick profit could be locked by what looks like another mini-cycle in terms of asset values. As evidenced by the table above table, vessels prices are very close to bottom levels reached back in the December 2012 – January 2013 period, while the freight market has been fairing at better levels compared to that period, possibly implying opportunities to be found in the second-hand market.
By Konstantinos Kontomichis, SnP Broker, Intermodal
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Wednesday, 28 January 15
CAPES CONTINUED THEIR UPWARD MOVEMENT LAST WEEK - INTERMODAL
COALspot.com: The Dry Bulk market displayed a mirror performance of that of the week prior, with the Capesize market correcting further upwards and ...
Tuesday, 27 January 15
Q1 FOB INDONESIA COAL SWAP CLOSED AT $ 47.87 FOR WEEK ENDING JAN. 23
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 gain week over week and declined month on month.
The Q1 swap has decline US$ 0.9 ...
Tuesday, 27 January 15
Q2 FOB NEWCASTLE COAL SWAP UP 4.5% W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery declined US$ 0.28 per MT (-0.54%) month over month and increased US$ 1.23 ( ...
Monday, 26 January 15
OVERSUPPLY, AMPLE STOCKPILES, AND LACKLUSTER UNDERLYING STEEL DEMAND KEPT COKING COAL PRICES LOW IN 2014
COALspot.com: Coking coal prices (FOB & CFR) fell 15% and 18% respectively during the year, amidst persistent oversupply, ample inventory and s ...
Monday, 26 January 15
FOB RICHARDS BAY Q2 COAL SWAP CLOSED LOWER THAN Q1 CLOSING
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and day on day.
The Q1 swap has fell ...
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Showing 3231 to 3235 news of total 6871 |
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- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- The University of Queensland
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- PTC India Limited - India
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Posco Energy - South Korea
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