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Wednesday, 18 March 15
PARKING THE CAPES - LINOS KOGEVINAS
 It is no secret that recent times have been anything but kind towards shipping, and no sector has suffered more lately than the dry bulk one. While we have seen various correctional signals for the wet sector (especially for the MR and VLCC segments), the dry market has had very few reasons to be hopeful. The BDI has been fairing at historical lows over the past few months and this had created a climate of widespread anxiety among dry bulk shipowners as there are limited hints of a recovery in the short-term.
With current cape spot market rates being significantly below OPEX levels, it seems that the patience of many Cape owners has finally begun to run out. As a result, they are left with a few options on how to proceed. There are two value-maximizing (or rather loss-minimizing) options; one is of course scrapping the vessel, almost certainly at a loss compared to the initial capital investment. With the scrap market revolving predominantly around bulk carriers and container vessels during the past weeks, it seems that many owners have selected this option.
On the other hand, some of the largest European Capesize players have selected the alternative route of parking their capes. A number of them have selected Kaohsiung, Taiwan as the ideal place to park their capes until rates pick up from the current depressing rates. Eastern Pacific has reportedly parked a number of their capes in anchorages (favoring the Kaohsiung anchorage).
Navios is also reported to have alluded to following the same route even going as far as suggesting that cold layups are the next step in order to cut what costs they can. The effects of such decisions on the market are hard to predict unless they are followed by a bigger number of owners, therefore for now it is expected that there will be a minor and more importantly temporary (lasting only until they’re back in the market) support in the market.
How sustainable will this strategy be? While the larger owners (many of whom have diversified fleets, thus hedging their exposure to the dry market troubles) may be able to sustain themselves long enough to survive through the current market slump, smaller players and those primarily invested in the cape segments will most definitely have trouble surviving where the situation is to persist for long.
With current conditions pushing more and more vessels out of the market, owners are awaiting Q2 in order to decide on their future moves. While short-term prospects are dire, the Indian coal market together with the Chinese steel import market, are possible candidates to partially help in the medium-long term recovery/ revival of the dry market sector.
As always, the amount of new orders that will be placed during the next quarters will play a determining role in the segment’s recovery, but given how quiet the newbuilding market for Capes has been since the summer of 2014, we believe that this should currently be the least of our worries.
By Linos Kogevinas
Marketing - Harbour Towage & Port Agency
Cotzias Intermodal Shipping Inc.
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.
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Wednesday, 11 March 15
DRY BULK MARKET CLOSED OFF ON THE GREEN FOR A SECOND WEEK IN A ROW - INTERMODAL
COALspot.com: The Dry Bulk market closed off on the green for a second week in a row, while the performance of Capesizes hindered a more substantia ...
Wednesday, 11 March 15
MARKET INSIGHT : NEWBUILDINGS - PANOS TSILINGIRIS
From a cost-based, buy-low perspective, there is currently a buying opportunity in the second-hand dry bulk market. I am an anti-cyclical (buy-low) ...
Wednesday, 11 March 15
DRY BULK MARKET: ALL IS NOT LOST FOR A RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The low cost of commodities across the board could trigger an increase of trade among many countries, which in turn could lead to a recovery of the ...
Wednesday, 11 March 15
U.S. ELECTRIC GENERATING COMPANIES TO ADD MORE THAN 20 GW OF GENERATING CAPACITY IN 2015; 16 GW OF GENERATING CAPACITY IS EXPECTED TO RETIRE IN 2015
COALspot.com: In 2015, electric generating companies in U.S. expect to add more than 20 gigawatts (GW) of utility-scale generating capacity to the ...
Tuesday, 10 March 15
OIL PRICE FORECASTING - IGNORE THE EXPERTS: COLIN MARSHALL
KNOWLEDGE TO ELEVATE
Experts put themselves on a pedestal, making claims to have special forecasting abilities for oil price trends. They, too ...
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Showing 3146 to 3150 news of total 6871 |
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- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Minerals Council of Australia
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Aditya Birla Group - India
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
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