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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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Wednesday, 07 October 15
U.S. COAL EXPORTS FOR THE FIRST SEVEN MONTHS DOWN 21 PER CENT COMPARED WITH THE SAME PERIOD IN 2014 - EIA
Coal Supply
Lower U.S.’s domestic coal consumption and reduced exports contribute to a forecast decline of 89 million short tons (M ...
Wednesday, 07 October 15
SHIPPING MARKET INSIGHT - INTERMODAL
Sale and Purchase activity during the first three quarters of 2015 and more specifically during the summer season has been rather remarkable. 421 v ...
Wednesday, 07 October 15
INDONESIA COAL SWAPS HAVE CONTINUED TO DECLINE, FALLING ALMOST 7% M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 2.23 (-5.51%) per t ...
Tuesday, 06 October 15
THE IMPACT OF LOW OIL PRICE ON THE SHIPPING INDUSTRY - LITERATED
The fall in global oil prices over the last one year has been beneficial to the shipping industry. The demand for oil tankers has picked up and the ...
Tuesday, 06 October 15
FOB RICHARDS BAY COAL SWAPS PLUNGE MORE THAN 6 PER CENT M-M
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$ ...
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- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Planning Commission, India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Australian Coal Association
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
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