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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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Saturday, 09 January 16
BALTIC DRY INDEX SINKS 10% WEEK OVER WEEK TO AN ALL-TIME LOW OF 429 POINTS
COALspot.com: The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, decline around 10% we ...
Friday, 08 January 16
FOB INDONESIA COAL SWAP FOR DELIVERY H1'16 REMAIN FLAT AS DEMAND DROPS OFF
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month, flat week over week. The price for coal has been in a Dull Market sinc ...
Friday, 08 January 16
FOB RICHARDS BAY COAL SWAP FOR Q2'16 DELIVERY CLOSED UP $0.13 AT $45.50 PER TON
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap decline month over month and slightly up week over week.
The Q1’ 2016 FOB R ...
Friday, 08 January 16
WEEKLY US COAL PRODUCTION DECLINES 1.6% TO 11.7 MMST, SAYS EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.7million short ...
Friday, 08 January 16
DRY BULK MARKET'S CRISIS DEEPENS AS RATES ARE DROPPING TO NEW RECORD LOWS BY THE DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Just when you would think that the dry bulk market is reaching its bottom, even as it has long surpassed all-time lows, each day that passes by at ...
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Showing 2616 to 2620 news of total 6871 |
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- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- The University of Queensland
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Australian Coal Association
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
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