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Wednesday, 30 September 15
NEW BUILDING MARKET INSIGHT
 COALspot.com: This year has been, beyond any doubt, a rather strenuous one for the newbuilding market. Ordering activity with regards to Dry Bulkers has been severely impacted by poor freight rates and the very attractive prices at which the second hand tonnage is offered right now. Moreover, the oversupply of tonnage in the sector that is most likely to persist for some time, despite this year’s increased demolition activity, makes investment in newly constructed vessels even less attractive. Occasional spikes in freight rates are also not expected to positively affect newbuilding activity in the sector as long as market sentiment remains poor. Hence new contracts for large sized vessels are almost absent and when signed they are in the majority of the cases tied to specific projects.
On the other hand, things in the Wet sector are definitely better. Healthy rates due to a more balanced supply of tonnage and good market sentiment backed by strong market fundamentals and a sense of optimism for the future have kept newbuilding activity in the sector live and kicking. What is of significant importance is that contracting activity is observed for all vessel sizes from specialized small vessels to VLCCs, with the latter as well as MRs being very popular among owners. At the same time the trend of converting originally dry bulk orders to tanker ones has gathered a lot of momentum during the first half of the year, resulting in a further squeeze of the dry bulk orderbook and scheduled deliveries.
Given the fact that a number of shipyards have been dealing with substantially fewer orders this year when compared to 2014 it comes as no surprise that newbuilding prices have been moving south for quite some time now. We are currently standing at price levels, with minimum exceptions, below the average level of 2014 and in the case of Dry Bulk sector, very close to those in 2013, which admittedly are attractive but still fail to convince more owners to head to the yards. The aforementioned reality has led Shipyards into severe financial distress with yards in South Korea drawing up plans for restructuring to cut operational costs, while at the same time China’s shipbuilding industry have been shrinking with yards there struggling to secure orders amidst mounting economic difficulties.
The next year is not expected to hide any significant changes in the newbuilding market environment, while if the number of yards squeezes and the freight market for both tanker and dry bulkers shows a more stable picture for extended period of times, we believe that newbuilding ordering might achieve healthier volumes.
By Vassilis Logothetis
Research Analyst
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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Tuesday, 20 October 15
FOB RICHARDS BAY COAL SWAPS SINK INTO RED THIS PAST WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 declined week over week and month over month.
The Q4 swap was down US$ ...
Tuesday, 20 October 15
API 5 FOB NEWCASTLE COAL SWAP CLOSED NEGATIVE
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $1.23 per ton (2.86%) month over month to US$ 41.80 per ton. The ...
Monday, 19 October 15
RUSSIA MAJOR COAL MINER KRU CUTS 4.5 MLN T/YR "UNPROFITABLE" EURO SALES - JACQUELINE HOLMES
COALspot.com: Kuzbassrazrezugol (KRU), one of Russia's largest producers of high-quality coal, plans to cut its coal exports in 2016 by about 4 ...
Monday, 19 October 15
CFR SOUTH CHINA COAL SWAP CLOSED AT $48.68 PER TON
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US cents 55 (1.12 %) per ton month over month.
A commodity ...
Monday, 19 October 15
KOMIPO SEEKS 1.28 MILLION T/Y COAL FOR DEC 2015 - Q2 2016
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 1,280,000 Metric Tons (MT) of minimum 4,600 kc ...
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- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- The University of Queensland
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Planning Commission, India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Marubeni Corporation - India
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