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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, 01 October 15
SOUTH KOREA'S KOMIPO SEEKS SPOT BITUMINOUS COAL SUPPLIES
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 265,000 Metric Tons (MT) of minimum 4,600 kcal ...
Wednesday, 30 September 15
Q1'16 FOB INDONESIA COAL SWAP FALLS $1.25 A TON AS SLIDE CONTINUES
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 0.72 (-1.78%) per t ...
Tuesday, 29 September 15
FOB RICHARDS BAY COAL SWAPS ARE SLIDING
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$ ...
Monday, 28 September 15
API 5 FOB NEWCASTLE COAL SWAPS UP $2.15 IN ONE MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery increased $2.10 per ton (5.15%) month over month to US$ 42.93 per ton. The ...
Monday, 28 September 15
CAPESIZE FLEET INCREASES BY JUST 1 VESSEL DURING LAST 12 MONTHS, IN POSITIVE SIGN FOR DRY BULK SHIPPING MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
After a rather tumultuous period, the shipping industry and more particular the dry bulk market has started to adjust to the new realities of globa ...
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- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- The University of Queensland
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Australian Coal Association
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Parliament of New Zealand
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
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