We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 13 January 16
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
 Going through the second week of 2016 we could easily argue that at this point there are no visible signs of an imminent recovery in the Dry Bulk market. This is also most probably the reason why despite the significant drop in prices for second hand tonnage, especially for modern assets and for vessels that are above 10 years old, has extended into this year, as limited investor interested is at this stage unable to support asset prices.
The big question that arises in the mind of many market participants is whether prices will remain at their current heavily discounted levels or if they will fall further. Bank financing is expected to have a crucial role in this, pretty much as it did during 2015 when a number of banks exerted pressure on many shipowners to conclude a number of distressed deals with profound implications for the secondhand market and asset prices more specifically. The following two comparable sales is a characteristic example of the magnitude of this exerted pressure on prices; in July 2015, the “GRACE FUTURE” (75k blt ’06, Japan) was sold at about $13.5m and just four months later, the “MARITIME HARESHIO” (75k blt ‘06 Japan), was sold for $8.5m, which represents a hefty 37% drop.
An important factor behind the falling asset prices, besides the poor condition of the freight market that is, is the number of newbuilding vessels expected to hit water in 2016, a substantial part of which was originally scheduled to be delivered during last year. The magnitude of the pressure the additional tonnage that was set to come in service this year would bring on earnings, forced many owners to sell tonnage at low prices during the last part of 2015, being certain that in the beginning of 2016 the situation would only worsen, something that they pretty much seem to have gotten right so far. As hard as it might be to look for silver linings at this stage, the exceptionally slow ordering activity in the Dry Bulk sector is without a doubt a positive development that will definitely help the market in the future. Let’s not forget that one of the factors currently impacting the market severely is in fact the large volume of newbuilding orders placed back in 2013.
Another remarkable fact is that the biggest part of the latest sales, especially in regards to modern tonnage (Cape resales, Ultramaxes, modern Kamsarmaxes etc) comes from listed companies. These sales significantly affect the ‘last dones’ and the market consequently, while at the same time it is extremely difficult for a private company to sell at such a loss its modern vessels. The biggest part of the market “experts” has very low expectations in regards to this year and to be fair macro data in regards to dry bulk commodities is not currently helping towards a more positive view. Nevertheless, in my opinion and as the market is already standing at historical lows, maybe market predictions should aim more on how long this depressed period is going to last and less on the fact that it will indeed be a depressed period, as pretty much everyone has gotten this by now.
This might be the year when prices for Dry Bulk vessels might bottom or not. The “right” time remains perhaps the single most important factor in investing but as this time can be rarely pointed out with precision, all a potential investor can focus on is a comparison between current prices and lows in previous cycles. In this respect, 2016 will be a year of opportunity for shipowners to invest but more specifically those shipowners who have made provisions for at least a few more depressed months ahead.
George Iliopoulos
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.
|
|
Wednesday, 30 December 15
FINAL DEALS OF THE YEAR TAKING PLACE, AS SHIP OWNERS PREPARE FOR 2016 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The Holidays’ investment lull has taken a grip over the newbuilding and S&P market for second hand vessels, as shipbrokers are reporting ...
Tuesday, 29 December 15
CFR SOUTH CHINA COAL SWAPS ROSE MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.68 (1.64%) per ton month over month.
A commodity swap is ...
Monday, 28 December 15
Q2' 15 U.S. STEAM COAL EXPORTS TOTALED 7.0 MMST; DOWN 16.9% FROM Q1 2015 - EIA
COALspot.com: U.S. coal production during second quarter 2015 totaled 211.1 million short tons.
According to EIA’s preliminary quarterly ...
Monday, 28 December 15
NOVEMBER NEWCASTLE COAL EXPORTS DECLINED 11.87%; THE AVERAGE PRICE OF COAL EXPORTS ROSE 1.37%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $1.120 billio ...
Saturday, 26 December 15
FOB INDONESIA COAL SWAPS KEEP DROPPING
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month and week over week.
According to AsiaClear OTC coal swap's rep ...
|
|
|
Showing 2631 to 2635 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Australian Coal Association
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Central Electricity Authority - India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
|
| |
| |
|
