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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, 21 January 15
PANAMAX MARKET MOVED SIDEWAYS OVERALL LAST WEEK - INTERMODAL
COALspot.com: The positive sentiment in which the week prior ended carried on through-out last week as well, the end of which marked the first posi ...
Wednesday, 21 January 15
SHIFT IN INTERNATIONAL COAL TRADE TO THE PACIFIC BASIN WILL CONTINUE - IMF
COALspot.com: The shift in international coal trade to the Pacific Basin will continue, IMF said in its latest Medium-Term Coal Market Report.
...
Wednesday, 21 January 15
MARKET INSIGHT - VASSILIS LOGOTHETIS, INTERMODAL
The World Bank has lowered its forecast for global growth in 2015 to 3% down from its previous level of 3.4% amid rising concerns over the economic ...
Wednesday, 21 January 15
THERMAL COAL PRICE OUTLOOK DEPENDENT ON INDIAN IMPORT DEMAND - MATTHEW BOYLE, CRU
COALspot.com: Supply and demand side developments in India will be an important determinant of future market dynamics and prices for thermal coal a ...
Wednesday, 21 January 15
PORT OF NEWCASTLE COAL EXPORTS JUMP 16.19% ON MONTH TO 15.80 MIL MT IN DECEMBER' 14
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.136 billi ...
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Showing 3241 to 3245 news of total 6871 |
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- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Australian Coal Association
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- The University of Queensland
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Planning Commission, India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Minerals Council of Australia
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