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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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Thursday, 15 October 15
INDONESIA COAL PRICE REFERENCE FALLS FOR SEVEN STRAIGHT MONTH IN OCTOBER
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price this month.
The ...
Thursday, 15 October 15
Q1' 16 FOB RICHARDS BAY COAL SWAP ADVANCED 2 PER CENT WEEK OVER WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gain week over week and declined month over month.
The Q4 swap was dow ...
Tuesday, 13 October 15
DRY BULK SHIPPING FLEET NET EXPANSION WAS 1.3% DURING THIRD QUARTER, BUT ORDERBOOK REDUCED TO 17% OF THE TRADING FLEET
If the dry bulk market is to rebound on a sustainable level, it needs to limit the tonnage expansion, at least until demand picks up again, as Chin ...
Tuesday, 13 October 15
FOB NEWCASTLE COAL SWAP DECLINED 2 PER CENT MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $0.46 per ton (1.08%) month over month to US$ 42.17 per ton. The ...
Monday, 12 October 15
CFR SOUTH CHINA COAL SWAPS GAIN W-W; SLIGHTLY DOWN M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US cents 3 (0.06 %) per ton month over month.
A commodity ...
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- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- The University of Queensland
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- PTC India Limited - India
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
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