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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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Monday, 05 October 15
Q1 & Q2 2016 DELIVERY SWAPS DECLINED M-M AND W-W THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $0.36 per ton (0.85%) month over month to US$ 42.12 per ton. The ...
Monday, 05 October 15
Q1' 16 CFR SOUTH CHINA COAL SWAP CLOSED US$ 48.05 PER TON
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down US$ 0.47 (0.96 %) per ton month over month.
A commodity swap is ...
Monday, 05 October 15
SMALL DECLINE IN 2014 SHIP OPERATING COSTS - MOORE STEPHENS
Total annual operating costs in the shipping industry fell by an average of 0.8% in 2014. This compares with the 0.3% average fall in costs recorde ...
Sunday, 04 October 15
THE INDO-INDIA FREIGHT MARKET REMAINS UNDER PRESSURE
COALspot.com: The BDI closed on Friday (2 Oct 2015) at 889 points, down by 54 points compared to previous Friday's closing ( 24 Sept 2015) of 9 ...
Friday, 02 October 15
COAL PRODUCTION IN THE UNITED STATES DECREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.5 million shor ...
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- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- PTC India Limited - India
- CNBM International Corporation - China
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Australian Coal Association
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- The University of Queensland
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
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