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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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Friday, 11 September 15
U.S'S WEEKLY COAL PRODUCTION WAS ALMOST FLAT PAST WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.6 million shor ...
Thursday, 10 September 15
U.S. H1' 15 STEAM COAL EXPORTS FELL BY 21 PER CENT Y-Y: EIA
Coal Trade
Slower growth in world coal demand, lower international coal prices, and higher coal output in other coal-exporting countries have all ...
Thursday, 10 September 15
INDONESIAN COAL BENCHMARK PRICE HITS A NEW LOW OF $58.21 PER TON
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price to US$ 58.21 per MT ...
Thursday, 10 September 15
IF NOT NOW, WHEN? - GIANNIS ANDRITSOPOULOS
Our industry is well known to be cyclical with some cycles lasting longer than others. Despite the fact that these shifts in the behavior of the fr ...
Wednesday, 09 September 15
FOB INDONESIA COAL SWAP LOSE GROUND ON SLOWING DEMAND
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week.
The 4Q swap declined $ 1.92 (-4.52%) per t ...
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- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Parliament of New Zealand
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
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