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Wednesday, 13 May 15
MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
 The EU governments in an effort to face their economic crisis individually are facing lack of political cohesion. This reflects back to each economy negatively while state leaders now have to deal with multiple issues. Economic instability has been around longer than initially expected by G8, causing various troubles to both poor and rich countries globally.
Shipping is still also clouded as world economic obscurity persists. The increasingly number of demolished overage vessels - compared to the previous year - along with the slowdown of new orders and the non-effective contracts so far, have still not managed to provide equilibrium in the market. The continuous low rates in dry sector seem to have exhausted the patience of private equity investors and all those who came in and invested aggressively the past years, aiming for quick profits. The less but although constant launches of NB units by shipbuilders combined with the fact that banks are unable to provide fair financing terms and amounts even for their good clients, adds more downward pressure on asset prices. Thus the opportune ground, for traditional and cash rich shipowners, is well maintained.
Panamaxes and Supramaxes have gained most interest followed by Handymax and lately by Handysize units. Potential candidates circulated officially or pushed privately in the market are gaining ample interest and many inspection requests. Contrary to the logical hypothesis that more buyers will increase competition and consequently prices, the offers are still ranged in extremely low levels and Sellers are usually glad to accept offers slightly lower or equal to the last dones. The still unsold M/V Front Runner ( abt 55kdwt blt 09 Mitsui, Japan) has been inspected by 8 parties. We are hearing that her owners, who aim at around USD15.0m, gathered five offers last Friday with the highest being in the region of USD14.0m. This offer is in line with the previous sale of the M/V Ultra Initiator (abt 56kdwt 2007 blt 07 Mitsui, Japan), which was sold for USD 12.7m at the end of February.
At the same time, it seems that Japanese Sellers have second thoughts. They appear quick to withdraw their vessels from the market when the offers received are not reflecting their initial price ideas. This phenomenon is rising in the very recent years and it is strange and totally opposite from the “usual” Japanese sale practices, in which they are usually described as “definite sellers”. This swift of 180 degrees in the Japanese sales mentality seems to have picked this year and has also consequently offered some very strong resistance to asset prices declining further. Some representative examples are the M/V Lowlands Queen (abt 76kdwt blt 08 Imabari), the M/V Lady Maria Louisa (abt 76kdwt blt 07 Imabari), the M/V Epson Trader (abt 82kdwt blt 07 Tsuneishi), the M/V Grace Future (abt 75kdwt blt 06 Universal), the M/V Sea of Future (abt 76kdwt blt 05 Tsuneishi) and the M/V Cymbeline (abt 73kdwt blt 01 Sumitomo), all of which were either fixed them on long T/C contracts or the selling of which was pushed to Q4 of 2015, as their respective owners hoping to achieve better prices then. If you count them, it is almost one withdrawn Panamax vessel per month.
As the end of the first half of the year approaching, we most certainly have to admit that we are a shade away from the bottom of this cycle if not already there. In fact we have been experiencing for quite some time a “Buyer’s Market”. The question we are often asked is “when” the market will start moving up and not if. What I answer is what my grandfather once told me; “do not put all your beans in the same bag”. In other words spread your acquisitions in time and not all at once.
By Konstantinos Kontomichis
SnP Broker, Intermodal
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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Wednesday, 06 May 15
COMBINATION OF HOLIDAYS AND A SHAKY MARKET PUT ADDITIONAL PRESSURE ON RATES
COALspot.com: The combination of holidays and a shaky market is always a recipe for additional pressure on rates and last week was no exception. Wi ...
Wednesday, 06 May 15
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
The first four months of 2015 are now behind us and they make up for a decent amount of time to look back and assess how the year is evolving so fa ...
Tuesday, 05 May 15
MIFA BERSAUDARA UNIT OF ABM INVESTAMA STARTS OPERATING $200M COAL MINE IN ACEH
Reswara Minergi Hartama, a coal mining unit of coal miner ABM Investama known as known as Reswara, inaugurated a $200 million integrated coal minin ...
Tuesday, 05 May 15
FREIGHT DERIVATIVE VOLUMES REACHED TOTALED 14,154 CONTRACTS IN APRIL - SGX
COALspot.com: “Our unique suite of freight and bulk commodity products provides market participants with a wide range of trading strategies a ...
Tuesday, 05 May 15
OVERSUPPLY PUTTING INDONESIAN COAL PRICES UNDER PRESSURE
COALspot.com: Indonesian coal swap for delivery Q3 2015 lost week over week and month on month, this past week.
The Q3 swap was declined US$ 1 ...
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Showing 3036 to 3040 news of total 6871 |
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- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
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