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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.
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.
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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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- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- VISA Power Limited - India
- MS Steel International - UAE
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
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