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.
|
|
Monday, 08 February 16
DRY-BULK SHIPPING DIVING DEEP
COALspot.com: The freight markets continued to fall this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of glo ...
Monday, 08 February 16
DRY BULK: SHIPBROKER SEES BDI MARKET REACHING LOW POINT OF 236 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The endless pit that is the dry bulk market over the past two months, has been the issue of debate among ship owners, shipbroker and analysts alike ...
Friday, 05 February 16
COAL INDIA EYES COAL MINES IN SOUTH AFRICA - PTI
“Coal India Ltd has plans of acquiring coal mines in South Africa,” an official said. It is looking at acquiring mines in partnership w ...
Friday, 05 February 16
U.S. WEEKLY COAL OUTPUT ROSE 4.2% TO 13.6 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.6 million shor ...
Thursday, 04 February 16
CAPESIZE: WEST AUSTRALIAN TO CHINA HAS BEEN CONCLUDED AT US$ 2.85 PMT AND THE C3 MARKET REMAINS INACTIVE - FEARNLEYS
Capesize
As everyone is getting ready for the Chinese new year, already depressed rates are under further pressure.
According to Fearnleys, ...
|
|
|
Showing 2571 to 2575 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Economic Council, Georgia
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
|
| |
| |
|
