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Wednesday, 03 February 16
DRY BULK MARKET CONTINUES TO BE UNDER PRESSURE - INTERMODAL
 The Dry Bulk market continues to be under pressure, with the BDI remaining in search of even the slightest support, which seems to be delaying more and more, while marking consecutive all-time lows throughout last week.
Freight rates in the sector are currently so low that fail to cover the vessels’ net OPEX (i.e. without taking into account possible financing). The unprecedented low earnings have been weighing down on prices and it goes without saying that are expected to keep doing so.
Yards focusing on building bulkers currently stand idle, with activity being almost non-existent. In the second hand market the number of vessels available for sale is notably high with plenty of candidates across all ages and potential Sellers considering and accepting in some cases, levels that a few months back they wouldn’t even discuss.
This is without a doubt an adverse reality, but there are nonetheless factors that could help improve the state of the dry bulk market in the medium run.
Lay-ups
All of the above are more or less known to all of us and they don’t need any further analysis as a number of voices have referred to them repeatedly over the past years. Another factor that could accelerate the market’s rebound and has only recently re-appeared in the equation, are lay-ups.
The latter monopolizes discussions as it is perceived as the last resort, bringing back memories from the 80’s crisis. We are currently approaching, if not already there, the point where daily losses will be higher than lay-up costs. Many nonetheless believe that even if we reach a meaningful number of lay-ups during the first months of the year, a possible market rebound, even a small one, during the last two quarters of 2016 will be overshadowed by the number of vessels exiting the lay-up condition amidst an improved market condition. But for an owner to have the incentive to pay all the necessary expenditures (repairs, surveys etc.) to make a vessel operational again, this means that earnings must have returned to levels well above OPEX, which in itself sort of secures a softer negative impact on rates once previously laid-up tonnage re-enters the market.
All of the above represent general trends the exact effect of which is difficult to calculate at the moment, let alone the timing this will kick in. Yet, combined with a possible increase in the supply of cargoes, they might positively affect the overall market sentiment even as soon as during the 2nd half of 2016. Fingers crossed.
Demolition
Until last October, Dry Bulk vessels built before 1995 could not easily find Buyers. Today these vessels, now over 15 years old, have completely ceased to attract any interest. If the market remains depressed, Buyers will even stop looking at vessels above 10yrs old, as differences in price margins between these and even younger vessels is currently very small.
Hence, for those owners who are willing or forced to sell, demolition remains their only option. Despite the fact that prices offered in the Indian subcontinent are currently the lowest in almost 8 years, the number of vessels that are heading for scrap keeps increasing rapidly.
Newbuilding
As mentioned above, demand for newbuildings in the Dry Bulk sector is totally absent. As the amount of deadweight to be delivered starting 2017 onwards becomes meaningless, this will also help the market, but this is obviously an effect that will not be enjoyed until then. Yet, the volume of cancelations, combined with slots that are converted to tankers should at some point help the market reach a healthier supply-demand relationship.
By Konstantinos Kontomichis
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.
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Wednesday, 17 February 16
TAP ON OPPORTUNITIES IN GROWING ELECTRICITY DEMAND AND NEW COAL POWER PROJECT DEVELOPMENTS IN THE PHILIPPINES - IBC
Tap on Opportunities in Growing Electricity Demand and New Coal Power Project Developments in the Philippines
Coal Power Generation 2016
19- ...
Wednesday, 17 February 16
THE OWNERS FACING HISTORICAL LOW DRY BULK RATES; COAL IMPORTS TO CHINA IS STILL POINTING TO A STRONG TREND OF DECLINING CONSUMPTION
The sharp fall in dry bulk rates that has been taking place since the end of last year and has left owners facing historical low rates for a substa ...
Monday, 15 February 16
CALL THE DOCTOR! SHIPPING'S MEDICAL DRAMA UNFOLDS......- CLARKSONS
The recycling market has started 2016 with a bang, with a huge volume of tonnage heading to demolition facilities. Many of the key shipping markets ...
Monday, 15 February 16
CS 42 COAL INDEX ROSE 0.07% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.15 percent week over week to averaging $38.96 per ton on this past Friday, ...
Monday, 15 February 16
BALTIC INDEX MARGINALLY ROSE BY A POINT D-D; CAPESIZE INDEX DOWN 13 POINTS W-W; PANAMAX INDEX UP 29 POINTS W-W
COALspot.com: The freight markets continued to fall this past week.
The BDI, The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measu ...
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Showing 2561 to 2565 news of total 6871 |
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- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Planning Commission, India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- PTC India Limited - India
- VISA Power Limited - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Siam City Cement - Thailand
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
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