We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 24 December 14
MARKET INSIGHT - JOHN N. COTZIAS, INTERMODAL SNP BROKER
 The year is coming to an end, and we should be able to assess if this was a good year, a bad year, or even a lousy one? The answer clearly depends on where you stand… which was your bet-horse in other words.
The negative sentiment that has been prevailing in the dry bulk market lately leaves most owners with a rather bitter taste following the free fall of the past weeks. Enquiry levels remain low and we observe with great concern the everyday softening that takes place in the Capesize segment, with the BCI touching new historical lows daily, since its introduction in March 1999. In the past four weeks we have seen the index dropping from above 3,000 points to well below 500 points, while the average T/C for the segment has moved from $23,000/day to below $4,900/day. What a drop! If one considers that most Capes run their OPEX in excess of $10k/day and the level of CAPEX for those Capes acquired at 100mil USD then it goes without saying that some owners and their banks are facing hard times ahead. The drop in second-hand prices is also evident, with prices approaching the levels we witnessed back in December 2012 and January 2013, while every new deal is marking a lower last done, which is also the benchmark for the negotiation of the next sale candidate.
It was this time two years ago, in our brokers insight once more just before the Xmas holidays that we mentioned that we are facing low ship values that pose a great opportunity for anyone proceeding with purchases to possibly achieve an asset play. Buy low sell higher! And yes that was the case. Definitely we were no prophets, nor in a possession of a crystal bowl. It was just a clear observation of market fundamentals, and the shipping business cycles that always bring these spikes and enable investors to better ride the waves of the cycle.
So what are the fundamentals now? Bunker prices are at a 5 year low, the Japanese Yen reached a seven year low against the US Dollar, the Euro to the Dollar may be soon approaching 1.15 according to some, the Russian economy presently looks Rubbled... sorry meant troubled, iron ore prices are phenomenally low, China’s softening appetite in November has been weighing down on Capes and mineral export bans from Indonesia hurt further the Pacific trade. At the same time the scrap price offered in China is at $220-$230/ton and price levels have also been dropping sharply in the Indian Subcontinent. Most notably, the overall scrap activity for 2014 is 30% less than that of last year, while newbuilding ordering in 2014 is almost 50% down compared to 2013 levels.
A very simplistic approach says that during a bad market when freight rates suffer, the normal is that ship prices correct. Definitely some owners lose their sleep during this period, however others are seeing this as a golden opportunity to buy low, support their investment until rates improve and once their asset gains in value, lock in the profits. Bankers always say that a business proposal should be viable with all figures “adding-up” positively… however these proposals never take into account the value of asset play. A business deal in which you are buying low, is usually one taking place in a freight environment which doesn’t make sense for a banker to invest in, but is usually the one that will most probably offer the opportunity to asset play.
Fasten your seatbelt, the cycle ahead might be bumpy. My best and warmest wishes to all of you and all friends and colleagues that have been showing their continual support throughout the years.
” Kali Chronia” as we say in Greece!
By ohn N. Cotzias, Intermodal SnP Broker
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.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
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 ...
Friday, 19 December 14
HOW WILL LOWER BUNKER PRICES AFFECT THE SUBSTANTIAL OVERCAPACITY IN DRY BULK MARKET? - BIMCO
As bunker fuel costs have come down from USD 600 per tonnes to USD 330 per tonnes in the past 6 months, much talk about increased ship speed have s ...
|
|
|
Showing 3296 to 3300 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- White Energy Company Limited
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
|
| |
| |
|
