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.
|
|
Friday, 19 December 14
U.S WEEKLY COAL PRODUCTION REACHED APPROXIMATELY 19.8 MMST; UP 1.0% WOW
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.8 million short tons (mmst) of coal ...
Friday, 19 December 14
HANDY: SOFTER TONE; PANAMAX: QUIET WEEK; CAPESIZE; PAINFUL WEEK
Handy
A softer tone for rates and volumes for the Supras, perhaps less apparent in the Pacific the last week before the season holidays and good ...
Thursday, 18 December 14
INDONESIA TO REVISE UP COAL OUTPUT TARGET TO 460 MILLION TONS IN 2015
COALspot.com: Indonesian government has revised up its next year coal output forecast to 460 million tons from its previous forecast of 421 million ...
Wednesday, 17 December 14
CAPES RATES SLIPPED BELOW $5,600/DAY, FELL 84% YOY
COALspot.com: In the very rare occurrence when the BCI stands below the BDI, words to describe market sentiment are probably poor, said Intermodal ...
Wednesday, 17 December 14
MARKET INSIGHT - INTERMODAL SHANGHAI, SNP TEAM
As the end of the fourth quarter is approaching, we are all witness to the second hand market prices softening day by day. Any new deal surfacing t ...
|
|
|
Showing 3301 to 3305 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Parliament of New Zealand
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- White Energy Company Limited
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
|
| |
| |
|
