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Wednesday, 01 July 15
BEIJING HAS OFFICIALLY EXTENDED BY TWO YEARS ITS SUBSIDY PROGRAM TO SUPPORT LOCAL SHIPPING COMPANIES IN SCRAPPING THEIR OLD TONNAGE - INTERMODAL
 Last week, Beijing has officially extended by two years its subsidy program to support local shipping companies in scrapping their old tonnage in what we hope proves to be a bold move forward to reducing the largest plague of the dry bulk market; overcapacity. Previous measures introduced in 2013 were largely targeted at replacing older tonnage with newer, environment-friendly technologies and the Chinese financial system gave extra incentives through aggressive financial backing to local and international owners. The result is well-known to everyone contributing to a heavy backlog of orders that has sent the freight market spiraling downwards since 2H 2014.
Assuming that the stressed out shipping finance lines do not allow this subsidy to roll-over to new orders, we believe that the joint effect of these actions could be the best news the dry bulk industry has received in months…
Since the beginning of 2015 we have been regularly commenting on the healthy scrap activity experienced in the Capesize sector. However, little progress has been made on smaller sizes and sub-continent scrapyards have shown little appetite for Handies, Handymaxes and even Panamaxes. Looking at the fleet concentration of vintage tonnage (over 15 years of age) one has to recognize two basic facts; Chinese owners are the main Buyer of such vessels and they own a growing percentage of that fleet.
So the impact of the announced measures is that we expect a large number of “overage” vessels controlled by Chinese companies to exit the market and be replaced by the new deliveries that are presently under order.
What does this mean for asset values of such ships in the short-term? Scrap values will go up and sub-continent scrap buyers will have to compete due to reduced supply of tonnage hitting its shores? or second hand values of vessels close to the 15 year mark will fast approach scrap levels (albeit higher ones)? Probably hard to give a definite answer now since all will depend on freight rates development over the next period and of course the net figure of vessels being delivered minus the ones going to demo over the next 3-6 months.
However, one cannot but recognize the largely positive medium-term effect this move would have on Handy, Handymax and Panamax sector and the -admittedly small- net effect upon the Capesize fleet.
p.s. One of the toughest broker’s insights we had yet to write… It is a time for pragmatism and clear, logical thinking to prevail so that Greece and the Eurozone will hand-in-hand overcome the hardships we face today for the common good of all its citizens. We need to find the strength to focus on the things that bring us together rather than the ones that separate us. We sincerely hope the financial crisis that our country is facing will end soon.
By George Dermatis
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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Wednesday, 15 July 15
SAS TO BUILD 108 KM ROAD FOR COAL IN JAMBI, SAYS JAKARTA POST
Jambi Governor Hasan Basri Agus said on Sunday that mining company PT Sinar Anugerah Sukses (SAS) would develop a 108-kilometer road with a width o ...
Wednesday, 15 July 15
ANY FUTURE IRAN OIL DEAL WILL BOOST SUPPLY FUNDAMENTALS WITH TANKER OWNERS HOPING FROM TEHRAN TO QUICKLY BOOST ITS PRODUCTION
With the Greek “Euro-drama” apparently over, at least for now, Iran’s oil deal still remains elusive, with any potential agreemen ...
Tuesday, 14 July 15
FOB NEWCASTLE COAL SWAPS MAINTAIN OVERALL NEGATIVE TONE THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery down $ 1.02 per MT (-2.23%) month over month to US$ 44.68 per mt. The swap ...
Tuesday, 14 July 15
CFR SOUTH CHINA COAL SWAPS DECLINE THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 1.47 (2.82%) per MT month over month.
A commodity swap ...
Monday, 13 July 15
THERMAL COAL IMPORTS SOAR 23 PER CENT TO 24.08 MILLION TONNES AT 12 MAJOR INDIAN PORTS
Import of thermal coal jumped 23 per cent to 24.08 million tonnes at 12 major ports in the first quarter of the fiscal, even as the government cont ...
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Showing 2926 to 2930 news of total 6871 |
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- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Planning Commission, India
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Australian Coal Association
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
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