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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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Friday, 28 November 14
NEW BIMCO CLAUSE AIMS TO REDUCE SUPPLIERS' RELIANCE ON SHIP ARREST FOR CHARTERERS' UNPAID BUNKERS
KNOWLEDGE TO ELEVATE
Ship owners can, on occasion, find themselves in the invidious position of suffering unexpected loss of hire due to a tim ...
Friday, 28 November 14
JSW ENERGY AND GRM RESOURCES JOIN GLOBALCOAL
COALspot.com: globalCOAL® announced yesterday that two new Market Members have joined its online coal trading platform. According globaCOAL&rsq ...
Thursday, 27 November 14
MINING SERVICES TAX SPIKED BY 233% - BISNIS INDONESIA
COALspot.com: The Energy and Mineral Resources Department of Indonesia said the tax contribution from mining services sector in the 3rd Q 2014 ...
Thursday, 27 November 14
PANAMAX : EXPECTATION'S FOR A STRONG END OF YEAR RUSH, DISAPPEAR DAY BY DAY - FEARNLEYS
Handy
“We have experienced a firming market the last couple of weeks. More activity from cargo owners in the Atlantic and less available to ...
Wednesday, 26 November 14
OVERSUPPLY OF TONNAGE PUSHED PANAMAX SEGMENT DOWN FOR ANOTHER WEEK
COALspot.com: The Dry Bulk market managed to reverse its course from the week prior and with the sole exception of the Panamax segment, we witnesse ...
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Showing 3341 to 3345 news of total 6871 |
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- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Parliament of New Zealand
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Australian Coal Association
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
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