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.
|
|
Wednesday, 01 October 14
ASIAN THERMAL COAL PRICES TO REMAIN WEAK ON OVERSUPPLY - FITCH
COALspot.com: The thermal coal market in Asia will remain oversupplied in the next 12 months, in spite of on-going rationalisation of production, a ...
Wednesday, 01 October 14
PANAMAXES: DEFENSIVE, STRUGGLING TO KEEP ANY FURTHER DECREASES - INTERMODAL
COALspot.com: The Dry Bulk market seemed unable to shake off the trend of the week prior and the BDI remained on a downward slope for the bigger pa ...
Wednesday, 01 October 14
FITCH: GLOBAL ECONOMY FACES MULTI-SPEED RECOVERY, MULTIPLE RISKS
Fitch Ratings says in its latest Global Economic Outlook (GEO) that global growth will pick up in 2015 and 2016, but risks are weighted to the down ...
Tuesday, 30 September 14
COALVIEW TO PARTICIPATE AT MET COKE WORLD SUMMIT 2014 IN CHICAGO
COALspot.com: Coalview Ltd., LLC(“Coalview”) America's leading fully integrated coal technology and fine coal recovery company prov ...
Monday, 29 September 14
INDONESIAN COAL EXPORT VOLUME FALL IN AUGUST
COALspot.com: Indonesia, one of the world's largest coal producers and the global leading multi grade coal exporter shipped around $1.50 ...
|
|
|
Showing 3456 to 3460 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- The University of Queensland
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
|
| |
| |
|
