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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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- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- The University of Queensland
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
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