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Wednesday, 25 May 16
DRY BULK SNP MARKET DISPLAYS SIGNS OF STRENGTH - GEORGE ILIOPOULOS
 Only a couple of weeks away from the world’s most prominent maritime event, the market for tankers displays an evident lack of confidence in regards to future prospects, hence buying interest remains particularly reserved. The number of inspections that takes place at the moment is fairly limited, while comparing recent sales of VLCC tonnage to similar sales that took place towards the end of last year, we see that prices are roughly 15% down. With the exception of a few specific deals involving VLCC and Suezmax tonnage, buying interest over in the tanker sector mostly focuses on MR vessels, particularly those units controlled by financiers, while except from the lack of confidence, another major issue that weighs down on SnP activity is the big gap between price levels offered by Buyers and those that are accepted by the Sellers.
Moving on to the demolition market, prices here are also pointing down. At the same time, demo buyers are also becoming more and more reserved in their bids, while despite the fact that prices offered at the moment are without a doubt improved compared to the $220/ldt levels that the market witnessed back in February, we believe that the stability can only be achieved after budget announcements, scheduled in June, take place.
At the same time, the dry bulk SnP market displays signs of strength, with buying interest focusing mainly on Supramax and Kamsarmax tonnage built during the last decade. A representative example of this recent momentum in the market is the M/V UNITED TREASURE (82kdwt blt 06 Japan), which was inspected by more or less fifteen (!) buyers. The healthier freight market, combined with improved psychology and of course the aforementioned firming appetite by Buyers, have provided support to asset prices for vessels close to 10 years of age. We calculate this increase in the region of 15%-20% compared to price ideas for similar vessels back in the beginning of the spring season.
Similarly, buyers are also looking with increased interest tonnage built around the end of the 90’s up to the early 00’s, something that we hadn’t seen in a while as the majority of sales was mainly focusing on modern tonnage up until recently. It is mainly ships of 40,000dwt and above that are enjoying this renewed interest for older tonnage and as a result the values of these vessels have also firmed despite the fact that scrap prices offered today are $20/ldt lower than what they were a few weeks ago.
To put things in perspective, a 2000 built Handymax with SS/DD passed was sold at around USD2.9m sometime in the beginning of March and a similar ship today could easily fetch USD3.5m or more, which translates to a 21% increase. Another positive sign that comes to reinforce this reserved optimism of late is that during the past few months the number of ships sold for scrap has been particularly firm while at the same time newbuilding activity remains almost non-existent. Despite the fact that earnings have still a long way to go before reaching levels at which owners can feel less challenged, the reality is that all the developments above are displaying clearly that the market is moving towards more balanced fundamentals as the size of the size fleet is slowly getting “under control”. Given of course that global growth and consequently trade growth still face numerous challenges, it is imperative that we see more scrapping activity for longer before things balance out.
Let’s hope that the reserved optimism in the dry bulk market is not exaggerated and that the market manages to move to healthier and more viable levels sooner rather than later.
By George Iliopoulos
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 reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Wednesday, 01 June 16
INDIA'S COAL IMPORTS IN APRIL 2016 DECLINED 15% Y/Y; COAL INDIA INCREASED COAL PRICES BY 6.2%
Coal India has approved raising weighted average coal prices by 6.2 per cent over the current price for both regulated and non-regulated sectors.
...
Wednesday, 01 June 16
ZERO SUPPLY TO FUEL GROWTH IN THE DRY BULK MARKET SAYS BIMCO PRESIDENT
The dry bulk market could become profitable again in 2019 – but only if a series of extremely tough and sustained measures are taken by shipo ...
Wednesday, 01 June 16
MARKET INSIGHT - LINOS KOGEVINAS
In another page from this year’s oil drama, oil has, after a series of gains, rebounded to ~$50 / barrel and immediately stopped climbing. &n ...
Tuesday, 31 May 16
CS50 INDONESIA COAL INDEX UP 0.28% COMPARED WITH A WEEK AGO
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.28 percent week over week to averaging $39.01 per ton this past week, shows ...
Monday, 30 May 16
BORYEONG POWER PLANT TO IMPORT HALF A MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea’s state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 500,000 Metric Tons of Bituminous Coal T ...
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- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- MS Steel International - UAE
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Planning Commission, India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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