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 $360-380/ldt. Although a slight increase in steel prices has been observed in the past couple of weeks this is not yet reflected in demo prices, but if it eventu-ally does, we expect the number of bulkers heading for scrapped to acceler-ate.
To sum up despite the fact that the dry market is not currently showing signs of a recovery being just around the corner, I believe that we will sooner rather than later observe more intense buying interest being transformed into actual deals, especially for vessels that are easier to charter these days and still manage to do so over OPEX levels, such as geared sizes build after 2000.
By Panos Makrinos
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 13 January 15
Q2 CFR SOUTH CHINA COAL SWAP DECLINED 8.66% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined by US$ 3.48 (-5.73%) month over month and US$ 2.35 (-3.94%) week ...
Tuesday, 13 January 15
Q1' 2015 RICHARDS BAY COAL SWAP SLIGHTLY HIGHER THAN Q2 & Q4 2015 SWAPS
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 7.21 ...
Monday, 12 January 15
COAL: LOW PRICES ARE EXPECTED TO DRIVE A SUPPLY-DRIVEN RECOVERY IN THE MEDIUM TERM - SGX
COALspot.com: Thermal coal prices dropped to six-year lows in 2014 driven by persistent oversupply, SGX says in its “ Commodities 2014 - A ye ...
Monday, 12 January 15
FREIGHT MARKET: 2015 FLEET SUPPLY GROWTH IS EXPECTED TO REMAIN SLIGHTLY AHEAD OF CARGO GROWTH - SGX
COALspot.com: The dry bulk freight market was forced to digest a number of negatives in 2014 leading the Baltic Dry Index to fall 66% through the y ...
Monday, 12 January 15
SHIPPING - CHALLENGES AND RESOLUTIONS - EVA TZIMA
Last year has without a doubt been another challenging one both for both our industry and our country. As Greece is currently dominated by election ...
|
|
|
Showing 3261 to 3265 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- White Energy Company Limited
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
|
| |
| |
|
