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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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Tuesday, 23 December 14
Q4'15 FOB RICHARDS BAY COAL SWAPS FALL $ 3.85 IN A MONTH
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month.
The Q1 swap has lost US$ 2.13 (-3.17%) month on month ...
Tuesday, 23 December 14
SHIPOWNERS ARE FINALIZING MORE DEALS AS YEAR END COMES CLOSER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS WORLDWIDE
With the 2014 year just a few days before waving goodbye, shipowners are looking to close their pending deals in both the newbuilding and S&P m ...
Monday, 22 December 14
Q2'15 CFR SOUTH CHINA COAL SWAP CLOSED $ 0.30 LOWER THAN Q1'15 CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3.67 (-5.81%) month over month and US$ 0.35 (-0.58%) ...
Monday, 22 December 14
API 5 FOB NEWCASTLE COAL SWAPS ARE HEADING SOUTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.71 per MT (-3.24%) and closed at US$ 51.02 on 19 December month ...
Sunday, 21 December 14
PANAMAX COAL FREIGHT FROM INDONESIA TO INDIA FALLS FURTHER
COALspot.com: The BDI continued its fall as cape index lost heavily week on week.
The BDI was down 6.95 percent week over week and closed at 8 ...
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Showing 3296 to 3300 news of total 6871 |
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- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- The University of Queensland
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Australian Coal Association
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
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