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Wednesday, 17 February 16
THE OWNERS FACING HISTORICAL LOW DRY BULK RATES; COAL IMPORTS TO CHINA IS STILL POINTING TO A STRONG TREND OF DECLINING CONSUMPTION
 The sharp fall in dry bulk rates that has been taking place since the end of last year and has left owners facing historical low rates for a substantial period of time, has now everyone wondering; how long can it last and what are those developments that could expedite the recovery.
According to our data for vessels above 20,000dwt, 2016 deliveries amount to 887 vessels, a scary number indeed even if one takes into account expected slippage. On the balancing side is of course demolition activity. A little less than 400 vessels were sent for scrap last year, while in the first six weeks of 2016 alone we count 83 demo sales. If scrapping activity for the rest of the year continues at this pace, demolition activity this year will easily top 2015.
Every single market participant is now anxious to see how rates will behave once the Chinese New Year festivities are over. At the same time, fundamentals for the big bulkers, the trade of which is closely tight to China, remain challenging. Chinese iron ore imports, despite reaching record levels, have been unable to help Capesize rates, while coal imports to the country are still pointing to a strong trend of declining consumption.
Lay-ups, an extreme thought not too long ago, have now become an everyday topic amongst owners. We also observe on a weekly basis that the number of 15yrs old vessels available for sale increases, while their owners are now more at ease with the idea of even selling them for scrap. Asset prices have naturally been plunging. Below are some representative example of the sharp fall.
Capesize
The “Nordtramp” - 170k dwt blt 2001 Koyo, Japan was sold last year at $17.1m, while the “Kohyohsan” - 172k dwt blt 2001 NKK, Japan was sold recently at $5.0m. Moreover, this summer we saw the “Churchill Bulker” - 179k dwt blt 2011 Hyundai, S. Korea committed in August at $37.0m, eventually failing and being sold three months later at $28.5m, 23% less. Two weeks ago the “Obelix” 180k dwt blt 2011 Imabari, Japan, was reported sold at $23.5m. Since the beginning of 2016, 22 Capesize vessels have been sold for demo, while 21 have been delivered.
Panamax
The “Thalia” - 75k dwt blt 2001 Hitachi, Japan was sold twelve months ago at $9.5m, while last week the “Cymbeline” - 73k dwt blt 2001, Sumitomo, Japan was sold at $3.3m a decrease of about 65%. The “Unity Pride” - 81k dwt blt 2011 Hyundai, S.Korea was sold at $17.6m back in April 2015. At Christmas we saw the “Archimedes” - 81k dwt blt 2011 Hyundai, S. Korea being sold at $14.5m, failing and coming up for sale once again, with interested parties not willing to offer above $12.0m. Since the beginning of 2016 a number of 33 vessels have been sold for demo, while 30 have been delivered.
It is definitely the “buy low” phase of this cycle. This of course is something that naturally leaves owners striving to survive utterly indifferent at the moment and logically so. But for the more fortunate ones, with cash to support their investment for a reasonable time, the opportunity to renew their fleet is undeniable.
By Giannis Andritsopoulos
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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Thursday, 28 January 16
RICHARDS BAY COAL SWAPS FOR Q1,Q2 AND Q3 DELIVERIES FIRM THIS PAST WEEK
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap rose month over month and week over week.
The Q1’ 2016 FOB Richards Bay Coa ...
Wednesday, 27 January 16
API 5 FOB NEWCASTLE COAL SWAPS CLOSE MIXED
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $1.17 per ton (3.13%) this past week compared to the sam ...
Wednesday, 27 January 16
CHINA'S STALLING ECONOMY HAS HAD A GREAT EFFECT ON VARIOUS COMMODITIES; DECREASED DEMAND DRIVING COMMODITY PRICES LOWER AND LOWER - LINOS ALEXANDROS KOGEVINAS
Having gone through the first few weeks of 2016, it’s starting to look like another challenging year is ahead of us. Hopes for a recovery in ...
Wednesday, 27 January 16
WORLD HARD COAL PRODUCTION AND CONSUMPTION DECLINE IN 2015 FOR THE FIRST TIME IN OVER A DECADE - VDKI
COALspot.com: Seaborne hard coal trade and the changes in this area were decisively affected by China and India - VDKi.
China bears the g ...
Tuesday, 26 January 16
Q3'16 CFR SOUTH CHINA COAL SWAP DROPPED BELOW $41 A TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.82 (1.94%) per ton month over month.
A commodity swap is ...
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Showing 2586 to 2590 news of total 6871 |
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- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Planning Commission, India
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- The University of Queensland
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
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