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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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Sunday, 18 October 15
THE BDI AND OTHER INDICES CLOSED OFF ON NEGATIVE NOTE THIS FRIDAY
COALspot.com: The BDI closed off on negative note this Friday compared to previous Friday's closing.
The BDI closed this Friday (16 Octobe ...
Friday, 16 October 15
MAJOR REVISION OF NYPE TIME CHAPTER PARTY - BIMCO
Major revision of NYPE time charter party promises to be both balanced and comprehensive
BIMCO has today jointly issued the first revision of ...
Friday, 16 October 15
FOB INDONESIA COAL SWAP FOR Q4'15 DELIVERY FLAT WEEK OVER WEEK; DOWN 5.5 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and flat week over week.
The Q4 swap declined $ 2.23 (-5.51%) ...
Friday, 16 October 15
COAL PRODUCTION IN THE UNITED STATES DECREASED THIS WEEK; DOWN 11.3 PER CENT Y-Y, DOWN 3.5 PERCENT W-W
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.1 million shor ...
Friday, 16 October 15
INDONESIA REJOINING OPEC DESPITE BEING A NET IMPORTER OF PETROLEUM - EIA
The Organization of the Petroleum Exporting Countries (OPEC) notified Indonesia that it plans to accept the country's request to reactivate its ...
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- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
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