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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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Tuesday, 24 May 16
WEEKLY CS COAL INDICES NEGATIVE FOR ALL TYPES OF COAL EXCEPT 3800 GAR COAL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was down 0.10 percent week over week to averaging $38.90 per ton this past week, sho ...
Monday, 23 May 16
A PERFECT STORM FOR INDONESIAN STEAM COAL EXPORTS - CLARKSON RESEARCH
Indonesia is the world’s leading steam coal exporter, accounting for over 40% of global seaborne steam coal exports since 2010. However in 20 ...
Monday, 23 May 16
THE PANAMAX INDEX WAS UP 17 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this week.
The freight market was firm and all ...
Friday, 20 May 16
SHIPBUILDING CONTRACTS: CAN I CANCEL? SHOULD I CANCEL? - THE SHIPOWNER CLUB
KNOWLEDGE TO ELEVATE
There are many circumstances in which a buyer of a new-build vessel might want to terminate or cancel their contract with ...
Friday, 20 May 16
U.S COAL PRODUCTION FOR THE WEEK ENDED 14 MAY TOTALED 11.4 MMST; UP 3.8% W/W
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.4 million short tons (mm ...
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- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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