We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 11 November 15
VESSEL VALUES ARE DOWN BY AT LEAST 20% SINCE MID-AUGUST - INTERMODAL
 I had promised not to spend another broker’s insight focusing on the dry bulk side. However, the sale of the M/V Churchill Bulker (179,362 dwt, blt ‘11 HHI) to Diana for approximately $28.4m, brought us face to face with the harsh reality once again; values are down by at least 20% since mid-August.
What I found extremely interesting is a new rhetoric which is being created by seasoned professionals that, 7 years after the Lehman collapse, this is the first time we are experiencing a proper shipping crisis. Now that the dust from the financial crisis has settled, capital markets are showing resistance to worldwide political turbulence and financial institutions are nearing the end of their challenge named Basel III, our industry has no alibi in still blaming China or other developing economies for not continuing to outperform expectations. The pundits that still maintain their memories from the 80’s fresh are having a strong “Deja-vu” driven by an enormous order book. Low scrapping activity in 2H 2015 -when compared to current freight rates and pending regulatory reforms further underlines the issue.
But this is all known and extensively documented. Too much ink has been wasted in analyzing, if not dramatizing, the market situation across all sizes. Things are bleak but repeating it doesn’t help solve the problem. There must be a reaction trigger point and when it comes to asset values, that point should be connected to the replacement cost compare to the value of an existing asset; i.e. the moment that buying a modern vessel is a no-brainer because building a new one is uneconomical in every which way you look at it…
The same players recalled that during the bleakest of times, one could purchase a 5yr old vessel for 35-40% of its NB price. No matter how shocking that statement sounds, reading through the new format of our research team’s monthly report, one can easily realize we are not far off that reaction point. As Tier III regulations are applied on every contract being negotiated henceforth, we expect to see at least a 6 month period where even the keenest buyers will follow a “wait and see” tactic towards the new technologies, engines, etc. and NB cost will increase by almost 10% which will shift the curve to levels witnessed almost 30 years ago.
What happened back then?
Well, last time we saw such a discrepancy in NB costs compare to 5yr old values, there was significant disinvestment in NB’s over a prolonged period, which was further intensified by higher scrap volumes and the gradual implementation of a series of regulations, which raised the cost of maintenance and drove even more vessels out of the market.
Does it ring any bells?
By George Dermatis
SnP Broker
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.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 13 November 15
WEAK CHINA POWER DEMAND DAMPENS COAL CONSUMPTION - FITCH
The weak growth in China's electricity consumption in 2015, together with increasing non-thermal power generation capacity are exerting more pr ...
Friday, 13 November 15
DRY BULK, IT IS HARD TO MAINTAIN AN OPTIMISTIC VIEW FOR THE NEXT COUPLE OF MONTHS - INTERMODAL
COALspot.com: The dry bulk owners looking for cover remained under pressure for size segments across the board. With Capes closing off the week as ...
Friday, 13 November 15
WEEKLY US COAL PRODUCTION DECLINES TO 16.5 MMST; SLIDE 14.9% Y-Y: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.5 million shor ...
Thursday, 12 November 15
FOREIGN COAL MINE ACQUISITION - STRATEGY VERSUS OPPORTUNITY FOR INDIAN UTILITIES - DIPESH DIPU
The acquisition market for thermal coal assets abroad is dull. Sellers of all hues are in the market; some are actively scouting for buyers while o ...
Thursday, 12 November 15
PORT OF NEWCASTLE'S COAL EXPORT VOLUME UP IN OCTOBER 2015
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $1.254 billio ...
|
|
|
Showing 2716 to 2720 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
|
| |
| |
|
