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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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Monday, 10 November 14
Q4' 15 FOB INDONESIA COAL SWAP CLOSED LOWER THAN Q1' 15 CLOSING PRICE OF US$ 49.58 ON LAST FRIDAY
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week on week and day on day.
The Q1 swap has lost just US$ ...
Monday, 10 November 14
SGX'S API 4 FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 65.44 ON 7 NOV, LOST 4.08% M-O-M
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has decreased US$ 2.78 (-4.08%) month over month and US$ 1.41 (-2.11%) w ...
Monday, 10 November 14
MOZAMBIQUE SIGNED CONTRACT WITH ETA STAR OF UAE FOR OPEN CAST COAL MINE IN TETE - AIM
- ETA Star to build slurry pipeline over the 600 kilometers to Beira in Mozambique to transport coal.
- The viability studies show the presence o ...
Monday, 10 November 14
YEAR 2015 CFR SOUTH CHINA COAL SWAP SHOWS A WEAK TREND THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 3.74 (-5.63%) month over month and US$ 2.19 (+3.37%) we ...
Sunday, 09 November 14
CAPE INDEX UP 3.06%; PANAMAX INDEX FELL 4.05%
COALspot.com: The BDI was almost at same levels compared to last week closing or just increased 0.77 pct from last week. The BDI was closed at 1437 ...
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Showing 3386 to 3390 news of total 6871 |
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- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- The University of Queensland
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
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