We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 03 December 15
PANAMAX BUSINESS REMAINED UNDER PRESSURE LAST WEEK
COALspot.com: Following the new record lows the Dry Bulk market witnessed the week prior, the BDI took a much needed breath during the past days.
...
Wednesday, 02 December 15
Q3' 16 FOB RICHARDS BAY COAL SWAP SLIGHTLY UP FOR THE THIRD STRAIGHT WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 up month over month and fell week over week.
The Q1’ 2016 &nbs ...
Wednesday, 02 December 15
MARKET INSIGHT - VASSILIS LOGOTHETIS
Boom and bust cycles in commodity prices are not something rare, yet they have important implications both for the world economy in general and for ...
Tuesday, 01 December 15
FOB NEWCASTLE COAL SWAP UP THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $3.75 per ton (9.26%) month over month to US$ 36.75 per ton. The swap ...
Tuesday, 01 December 15
TANKERS VERSUS BULKERS - JUST PLAYING CATCH UP? - CLARKSONS
It’s now more than a year since the tanker market took off. In mid-2014 tanker earnings picked up and since then have been in the $30-$40,000 ...
|
|
|
Showing 2676 to 2680 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Australian Coal Association
- Xindia Steels Limited - India
- PTC India Limited - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
|
| |
| |
|
