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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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Tuesday, 07 July 15
FOB NEWCASTLE COAL SWAP ADVANCED MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 0.28 per MT (-0.61%) month over month to US$ 45.85 per mt. The swap wa ...
Monday, 06 July 15
KOREA MIDLAND POWER COMPANY LIMITED ISSUED A TENDER FOR 250K MT BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 250K Metric Tons (MT) of 5300 kcal/kg NAR coal ...
Monday, 06 July 15
COAL TRADING & RISK MANAGEMENT TRAINING COURSE
Are you ready to invest in yourself and take your trading and risk management strategy to the next level? The Coal Trading & Risk Management Tr ...
Monday, 06 July 15
CFR SOUTH CHINA COAL SWAP; DECLINED D-O-D,W-O-W AND M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.53 (1.01%) per MT month over month.
A commodity swap ...
Sunday, 05 July 15
THE BALTIC DRY INDEX WAS DOWN 18%; PANAMAX UP 9%
COALspot.com: The freight market was soft during this week. However indices closed slightly firmer end of the week on 3rd July.
The BDI was do ...
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Showing 2941 to 2945 news of total 6871 |
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- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- PTC India Limited - India
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Malabar Cements Ltd - India
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
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