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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, 02 December 14
FOB RICHARDS BAY COAL SWAPS LOST MONTH OVER MONTH
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month, week on week and day over day.
The Q1 swap has lost U ...
Tuesday, 02 December 14
SUB-BIT FOB INDONESIA COAL Q1' 15 DELIVERY SWAP CLOSED AT US$ 49.50
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week over week and day on day.
The Q1 swap has lost US$ 0.4 ...
Monday, 01 December 14
SGX'S FOB NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 52.50
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.50 on 28 November after losing US$ 1.20 (-2.23%) month ove ...
Monday, 01 December 14
Q2' 15 DELIVERY CFR SOUTH CHINA COAL SWAP CLOSED 0.42% LOWER THAN Q1' 15 DELIVERY CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 2.45 (-3.78%) month over month and US$ 0.67 (-1.06%) we ...
Sunday, 30 November 14
SUPRAMAX COAL FREIGHT RATES FROM INDONESIA TO INDIA : FIRM
COALspot.com: The BDI fell 171 points and closed at 1153 points on Friday 28 November 2014. The Cape index also lost 887 points and closed at 2151 ...
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Showing 3336 to 3340 news of total 6871 |
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- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- The University of Queensland
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- PTC India Limited - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
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