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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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Monday, 30 May 16
BCI ENDING AT 830 POINTS, DOWN 4.6 PER CENT W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week. The freight market was weak this past ...
Friday, 27 May 16
PET-COKE IMPORTS TO FACE PRESSURE IN INDIA
COALspot.com: An Indian environmental activist moved the National Green Tribunal seeking ban on the use of all forms of petroleum coke, also called ...
Friday, 27 May 16
US COAL PRODUCTION ROSE 2.9% WOW, ACCORDING TO EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.7 million short tons (mm ...
Thursday, 26 May 16
GIANT ORE CARRIERS SET TO PLAY A BIGGER ROLE IN THE GLOBAL SHIPPING FLEET: CHINA EMBRACES VALEMAXES - RICHARD SCOTT
Another phase of the giant ships era is approaching. Chinese shipowners placed orders recently for 30 huge ‘valemax’ ore carriers. Thes ...
Wednesday, 25 May 16
MEDIATION AS A WAY TO RESOLVE DISPUTES IN THE SHIPPING INDUSTRY - LANA JACOBS
KNOWLEDGE TO ELEVATE
The shipping market is currently experiencing a serious recession with the Baltic Dry Index and Baltic Capesize Index bot ...
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Showing 2416 to 2420 news of total 6871 |
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- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Australian Coal Association
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
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