We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 26 October 16
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
 If the finale of a thriller movie finds the leading actor successfully surviving after all the sacrifices he has made, the audience presumes this to be a happy ending. However, in reality the leading actor at the beginning of the plot was probably in a much better state without all these sacrifices made in order to survive. This somewhat resembles the year so far in regards to the dry bulk market. Despite the fact that in most cases rates have slowly moved above OPEX levels, the way to also cover any debt and eventually make profit is still long for most shipowners. Saying that, dry bulk owners are now in a much better state compared to the first half of the year and this also justifies those who took a more aggressive approach amidst a sharply falling market and invested in second-hand tonnage close –for many – to the absolute price bottom during q1 and q2 given the increase asset prices have been witnessing.
In the Capesize segment, the M/V Monegasque Eclat (ex - Spring Hydrangea 176k dwt 2006 Namura / Japan) was bought for $11.7m back in March and was sold for $13.5m in August, an increase of around 16%. Additionally, Stealth Maritime bought the M/V TIGERLILY (ex- C. Winner - 169k dwt 2008 Daehan / Korea) in March for a price in the region of $11.3m and sold it in August for $15.6m, an increase of 38% in just five months. Also during March, Singaporean owner Wilmar bought the M/V Ten Maru (ex-Tenshin Maru 82k 2008 Tsuneishi Zhoushan / China) for $8.0m and sold it for $11.3m a couple of weeks ago. In the Supramax sector, rumors are spreading this week that the M/V Star Manx (58k 2009 Tsuneishi Zhoushan) was sold at $12m, which is a significant premium compared to the sister vessel M/V Vinayak (ex - Caly Manx 58k 2009 Tsuneishi Zhoushan) which was sold back in June for $9.75.
Despite the substantial increase in asset values that took place after the end of the first half of the year though, one can say that price levels are still relatively low and despite the fact that competition among interested Buyers remains healthy, these Buyers nowadays demonstrate more resistance and do not in rush/panic buying. This is probably because they believe that a fundamental and meaningful recovery in earnings will only take place once global growth and trading start to accelerate and they are probably taking a more preservative approach which in terms of buying means; no rush. Additionally, with a number of big banks still looking at respective restructurings and private equity having distanced itself from shipping, finance still remains limited, which means that the number of “serious” Buyers is limited to those who have cash.
The development of the fleet could also provide some support to the market. On top of any demolition activity and slippage, starting September 2017 onwards, those vessels going through their respective dry docking will have to comply with the water ballast requirements, fact which – given the cost entailed in such compliance - should expedite the removal of an additional number of older vessels from the market. The limited ordering in the dry bulk sector, which the market has been witnessing since 2015, is also a positive driver as far as a more controlled fleet development is concerned.
Eight years following the onset of the shipping crisis back in 2008, it is not too optimistic to say that market fundamentals have finally started to slowly shift towards a more positive direction, motivating even the most conservative owners to start showing some interest in the second-hand market. With a more clear view ahead, those who were in a “wait and see” mode will most probably redirect themselves towards the “closely monitoring” or even the “inspection/buy” mode.
By TKonstantinos Kontomichis
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.
The 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.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 12 October 16
INDIAN STEELMAKERS' DELEVERAGING AT RISK ON COKING COAL PRICE JUMP - FITCH
The sharp increase in coking coal prices since August 2016 could squeeze Indian steelmakers' profitability and threaten their deleveraging, Fit ...
Wednesday, 12 October 16
UK SEABORNE COAL IMPORT PLUNGES 64% AS A WORRYING TREND LURKS - BIMCO
The main exporters of thermal coal for coal- fired power plants to the United Kingdom (UK) have experienced a heavy decline in seaborne cargo volum ...
Monday, 10 October 16
INDONESIAN COAL PRICE REFERENCE HITS HIGHEST LEVELS SINCE SEPTEMBER 2014
COALspot.com: The Indonesia coal benchmark price hits to its highest level since September 2014. The government declared benchmark prices for Indon ...
Monday, 10 October 16
THE FREIGHT MARKET FIRMS UP ON STRONG CAPE PERFORMANCE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose again and ending in a positive note this past week. ...
Friday, 07 October 16
INDONESIA'S DEMAND FOR COAL REMAINS STRONG: BP
Indonesia's domestic demand for coal shows no sign of slowing down as the country is banking on its coal abundance to meet the country' ...
|
|
|
Showing 2256 to 2260 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- PTC India Limited - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Planning Commission, India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
|
| |
| |
|
