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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, 07 January 15
FUEL EFFICIENT SHIPS MAKE LESS SENSE IN LOWER BUNKER PRICE MARKET, BUT FUEL COSTS ARE BOUND TO RISE AGAIN
The shipping industry entered 2015 on mixed emotions, as a relatively buoyant tanker market is met by a rather lackluster dry bulk market. Still, a ...
Wednesday, 07 January 15
2015 IS RIDDLED WITH CHALLENGES FOR THE SHIPPING SECTOR, MOST NOTABLY THE DRY BULK MARKET - HELLENIC SHIPPING NEWS
As the new year has now set foot for real, many are still looking to detect what’s in store for the various shipping markets, with the first ...
Tuesday, 06 January 15
SHIPPING MUST ADOPT CAN-DO ATTITUDE IN 2015 - MOORE STEPHENS
Shipping needs to adopt a can-do attitude in order to successfully meet the challenges which are likely to come its way in 2015.
Shipping part ...
Tuesday, 06 January 15
Q4' 15 FOB INDONESIA COAL SWAP CLOSED 1.81% HIGHER COMPARED TO Q1' 15 CLOSING
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 0.74 (-1.51%) m ...
Tuesday, 06 January 15
FOB RICHARDS BAY COAL SWAPS LOST W-O-W AND M-O-M, SGX DATA SHOWS
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 3.52 (-5. ...
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Showing 3271 to 3275 news of total 6871 |
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- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- The University of Queensland
- Georgia Ports Authority, United States
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