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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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Thursday, 28 January 16
RICHARDS BAY COAL SWAPS FOR Q1,Q2 AND Q3 DELIVERIES FIRM THIS PAST WEEK
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap rose month over month and week over week.
The Q1’ 2016 FOB Richards Bay Coa ...
Wednesday, 27 January 16
API 5 FOB NEWCASTLE COAL SWAPS CLOSE MIXED
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $1.17 per ton (3.13%) this past week compared to the sam ...
Wednesday, 27 January 16
CHINA'S STALLING ECONOMY HAS HAD A GREAT EFFECT ON VARIOUS COMMODITIES; DECREASED DEMAND DRIVING COMMODITY PRICES LOWER AND LOWER - LINOS ALEXANDROS KOGEVINAS
Having gone through the first few weeks of 2016, it’s starting to look like another challenging year is ahead of us. Hopes for a recovery in ...
Wednesday, 27 January 16
WORLD HARD COAL PRODUCTION AND CONSUMPTION DECLINE IN 2015 FOR THE FIRST TIME IN OVER A DECADE - VDKI
COALspot.com: Seaborne hard coal trade and the changes in this area were decisively affected by China and India - VDKi.
China bears the g ...
Tuesday, 26 January 16
Q3'16 CFR SOUTH CHINA COAL SWAP DROPPED BELOW $41 A TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.82 (1.94%) per ton month over month.
A commodity swap is ...
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Showing 2586 to 2590 news of total 6871 |
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- Aditya Birla Group - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
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