We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 10 February 16
OWNERS APPEAR WILLING TO DISPOSE OF TONNAGE THE SOONEST IT HITS THE 10 YEAR MARK - TIMOS PAPADIMITRIOU
 COALspot.com: The last two months of 2015 made a case for traditional shipowners to invest in the dry bulk sector, doing so though based purely on asset prices and not on market conditions. Today, three months later and with fewer vessels in the market, buying appetite seems to be subdued but not extinguished.
We are witnessing buyers still willing to inspect and offer on modern vessels, while once more we witness strong preference to Japanese built tonnage. Market expectations may not have changed dramatically when compared to three months ago, but what appears to be different today is that shipowners are letting the sour feeling to finally sink in.
As these lines are written the festivities for the Chinese New Year are taking place and are bound to depress the market even more. A couple months down the line, the closing of the Japanese fiscal year coupled with all the scheduled deliveries, are expected to also help shape the dry bulk asset scene for the rest of the year.
Although it seems that the perfect storm is brewing in the dry sector, the future holds surprises and if there is one thing we‘ve learnt from market cycles, it’s that things don't always go as expected. For now we can only wait and hope that the Monkey – 2016 being its year - will give its blessing.
At the same time, moving on to tankers, the picture is rather blurry and unclear. It seems that the market is waiting for some sort of downward correction to take place, although the wishful thinking that earnings will stay at healthy levels is unsurprisingly in the mind of all market participants. As there is too much analysis and many predictions out there for oil prices as well as the effect that Iranian production entering the global stage will have, I will only focus on current assets prices.
The asset market is flooded with ships. Piles of MR, AFRAs and VLCCs are being stacked, ranging mostly from early to mid-2000. On average and at any given time there are more than 40 vessels for sale on every segment with Korean built tonnage dominating the lot.
Owners appear willing to dispose of tonnage the soonest it hits the 10 year mark. These ships still make money to their owners and even though they put the “for sale” sign on them, they don't seem to be willing to part ways easily. The average price a Seller is asking for a 10 year old MR1 built in Korea is around USD 18 million. To put things into prospective, one can buy 2 x Japanese Kamsarmaxes, a year younger, and be left with more than 3 million to burn on subsidizing them for the next couple of years. Of course the MR is making money compared to the Kamsarmaxes that are currently bleeding cash. Nonetheless this just sums up the contradiction.
Some might say that the current picture of the tanker market is rather similar to the picture of the Bulk Carrier market back in 2006 when the market had been rising for more than two years and in everybody's mind a decline was due. Again many rushed to sell. The rest is history.
Don't get me wrong, I am not trying to argue anything. The point is to remotely try and make sense of what is going on. History repeats its self but this is not always the case. One thing is certain though and this is that history has a strange sense of humor. In 2016 players will have to find the silver lining between a cheap investment and a cash flow that allows you to survive.
By Timos Papadimitriou
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.
|
|
Tuesday, 15 March 16
PORT OF NEWCASTLE SHIPPED 12.78 MMT OF COAL IN FEBRUARY 2016
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped AU$1,110.5 mi ...
Tuesday, 15 March 16
ADARO ENERGY LOWERED ITS COAL CASH COST BY 16% TO US$ 27.98 PER TONE IN 2015
Difficult Coal Market Condition Persists in 2015, Adaro Lowers Costs, Reduces Capital Spending and Maintains Solid Liquidity.
PT Adaro E ...
Monday, 14 March 16
THE CS 50 INDEX ROSE $0.16 OR, 0.41% TO $38.82 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.41 percent week over week to averaging $38.82 per ton on this past Friday, ac ...
Monday, 14 March 16
THE BALTIC EXCHANGE CONTINUED TO ROSE THIS PAST WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rise this week helped by higher rates for pa ...
Saturday, 12 March 16
PLN, COAL COMPANIES IN TALKS ABOUT PRICES - THE JAKARTA POST
Following a study that predicted that Indonesia would struggle to provide coal for its power stations in the near future, the government will facil ...
|
|
|
Showing 2521 to 2525 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Parliament of New Zealand
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Planning Commission, India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- The University of Queensland
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- PTC India Limited - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
|
| |
| |
|
