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Wednesday, 01 April 15
WEEKLY SHIPPING MARKET UPDATE - INTERMODAL
 There is no doubt that we are still witnessing a very challenging and at the same time very uncertain market, both with respect to dry chartering as well as SnP activity. As far as the latter is concerned, we observe a strong nega-tive trend in asset prices that has kicked off back in mid-2014, but which has nevertheless still hasn’t convinced buying interest to the extent that one would think. This trend affects all segments and ages with the most repre-sentative examples those of the 10-year old Panamax and the 5-year old Cape, the prices of which are currently at a massive discount compared to a year ago.
The obvious question that rises among the majority of shipowners and po-tential investors is whether this is the right time to invest in second hand vessels or not, but this time round the argument for investing is very hard to make as the present earnings from the very depressed freight market are at levels that in many cases fail to even cover operation expenses.
So does buying a ship at a low freight market entail a substantial risk? The answer is a definitive yes, but as it has happened many times in the past, such risks have proven to be excellent investment choices when improved freight levels finally take place following a market recovery. The million dol-lar question is as always what is the best time for such investments, and one that cannot be answered as the “perfect timing” or “accurately calling the bottom” is a very rare occurrence in this market to begin with.
When looking at the very low asset prices and the fairly intense buying inter-est of the last month, especially for vessels build post 1990, one could ob-serve that some key players are eager to buy at the lowest price they can achieve right now, having in mind that the BDI has reached its historical bottom recently and a gradual rise is bound to happen even at a pace that might not secure immediate profit for shipowners.
At the same time, the oversupply of available tonnage in the dry market remains a very important issue, especially if one takes into account the num-ber of bulkers that are due to be delivered this year following the ordering spree of 2013. Slippage and cancellation might help this number eventually come in lower than expected, while on top of that, intense demolition activi-ty is already offering hopes for a much needed breather in the dry bulk mar-ket, despite the fact that demo prices are currently in the range of $360-380/ldt. Although a slight increase in steel prices has been observed in the past couple of weeks this is not yet reflected in demo prices, but if it eventu-ally does, we expect the number of bulkers heading for scrapped to acceler-ate.
To sum up despite the fact that the dry market is not currently showing signs of a recovery being just around the corner, I believe that we will sooner rather than later observe more intense buying interest being transformed into actual deals, especially for vessels that are easier to charter these days and still manage to do so over OPEX levels, such as geared sizes build after 2000.
By Panos Makrinos
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.
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Tuesday, 15 September 15
Q2'16 RICHARDS BAY COAL SWAPS DIP TO $ 51.10 PER TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined week over week and month over month.
The 4Q swap was down US$ ...
Tuesday, 15 September 15
API 5 FOB NEWCASTLE COAL SWAP FOR 4Q' 2015 DELIVERY CLOSED AT $42.71 PER TON ON 11 SEPT, SGX DATA SHOWS
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery declined $0.94 per MT (-2.15%) month over month to US$ 42.71 per mt. The sw ...
Monday, 14 September 15
Q1'16 CFR SOUTH CHINA COAL SWAP DECLINED $1.80 PMT M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.62 (3.21 %) per MT month over month.
A commodity ...
Monday, 14 September 15
MOODY'S LOWERS COMMODITY PRICE ASSUMPTIONS ON MACRO, INDUSTRY FACTORS
COALspot.com: Moody's Investors Service has lowered its base metal price assumptions for 2015-17 as slowing growth in China, lower oil prices, ...
Sunday, 13 September 15
FREIGHT RATES ARE EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The BDI decreased further by 6.51 per cent or 57 points since last Friday and closed at 818 on 11 September 2015 while the cape index ...
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Showing 2816 to 2820 news of total 6871 |
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- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Economic Council, Georgia
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Planning Commission, India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
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