We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Sunday, 18 January 15
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO REMAIN WEAK NEXT WEEK
COALspot.com: The BDI was up 4.51 pct week on week on Friday 16, January 2015. The BDI closed at 741 points on this Friday after gaining arou ...
Friday, 16 January 15
U.S. WEEKLY COAL PRODUCTION UP 7.3% W-O-W
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
Thursday, 15 January 15
PANAMAX : MARKET CONTINUE ON LOW PACE - FEARNLEYS
Handy
On a general basis we can say that rates are softening in both hemispheres. Although for some specific trades we can see premiums being ach ...
Thursday, 15 January 15
LOW CASH COSTS, GOOD LIQUIDITY HELP ASIAN OIL COMPANIES IN PRICE ROUT - FITCH
Fitch Ratings says that rated oil and gas production companies in Asia can comfortably operate under low oil prices for some time given their gener ...
Wednesday, 14 January 15
DRY BULK MARKET NOTED ANOTHER WEEKLY DECLINE - INTERMODAL
COALspot.com: The Dry bulk market noted another weekly decline on Friday, with the performance of the Capesize market still weighing down on the re ...
|
|
|
Showing 3251 to 3255 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
|
| |
| |
|
