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.
|
|
Friday, 15 January 16
FOB INDONESIA COAL SWAPS FIRM SLIGHTLY LAST WEEK
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month over month and week over week.
According to AsiaClear OTC coal swap's r ...
Friday, 15 January 16
SHIPPING: 2016 STARTED WITH MISERY ACROSS THE BOARD FOR SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As one would have expected, the dry bulk market starter the new year where it left off in 2015, plunging to never seen before depths, as the market ...
Friday, 15 January 16
U.S. WEEKLY COAL PRODUCTION ROSE ACROSS ALL BASINS: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.4 million shor ...
Thursday, 14 January 16
FOB RICHARDS BAY COAL SWAP FOR Q3 DELIVERY CLOSED $5.90 LOWER THAN Q1 PRICE
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap up month over month and week over week.
The Q1’ 2016 FOB Richards Bay Coal ...
Wednesday, 13 January 16
U.S. COAL PRODUCTION DECLINED BY 109 MMST IN 2015; COAL EXPORTS DECREASED 21% Y-O-Y
COALspot.com: U.S. coal production declined by 109 million short tons (MMst) (11%) in 2015, the largest decline ever recorded, says EIA.
The 2 ...
|
|
|
Showing 2606 to 2610 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Planning Commission, India
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- The University of Queensland
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
|
| |
| |
|
