We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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 $360-380/ldt. Although a slight increase in steel prices has been observed in the past couple of weeks this is not yet reflected in demo prices, but if it eventu-ally does, we expect the number of bulkers heading for scrapped to acceler-ate.
To sum up despite the fact that the dry market is not currently showing signs of a recovery being just around the corner, I believe that we will sooner rather than later observe more intense buying interest being transformed into actual deals, especially for vessels that are easier to charter these days and still manage to do so over OPEX levels, such as geared sizes build after 2000.
By Panos Makrinos
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 30 March 15
Q3' 15 CFR SOUTH CHINA COAL SWAP: DECLINED 8.7% M-M; 12.77% Y-TO-D
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 5.00 (-8.70%) per MT month over month and US$ 1.33 (-2 ...
Monday, 30 March 15
Q2' FOB NEWCASTLE COAL SWAP CLOSED 4.47% HIGHER THAN Q4' CLOSING PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 5.42 per MT (-10.43%) month over month and US$ 1.60 (-3.32%) w ...
Sunday, 29 March 15
INDO - INDIA: SUPRAMAX & PANAMAX FREIGHT MARKET STEADY
COALspot.com: The freight market was almost stable as all segments slightly up except Panamax sector.
The BDI was up by just 0.85% week over w ...
Saturday, 28 March 15
IS NORTHERN EUROPE THE NEW MINING ELDORADO?
The Europe Mining 2015 Summit, organised by Global Summits organizer IRN on 17-18 June in Amsterdam, The Netherlands, will gather senior level repr ...
Saturday, 28 March 15
THE DRY BULK FLEET AT BREAKING POINT - CLARKSONS
The severe oversupply in the bulkcarrier fleet has contributed to the current trough in the dry bulk market, putting considerable financial pressur ...
|
|
|
Showing 3101 to 3105 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- PTC India Limited - India
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Australian Coal Association
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Minerals Council of Australia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
|
| |
| |
|
