We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 28 June 17
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
 From the beginning of the year until now SnP activity has changed significantly. To put things into perspective, after a fast and furious q1 on the dry bulk side, which counted 219 bulk carriers transactions, a rather sluggish q2 followed with 130 transactions, translating to a 41% decrease. Currently, as we are approaching the end of June, we can say that buyers and investors have switched more into a reflection mode, contemplating whether and when they should buy or sell again. Some are looking to flip ships they bought cheaper and others wait for second-hand prices to keep pointing downwards and move to more attractive levels.
In the meantime, the one factor that appears rather consistent between the first and the second quarter of the year is the hire market. Indeed, with the exception of Capesize rates that are today 58% down compared to year highs, averages earnings for all other sizes are more or less faring around 2017 average levels. Capesize market aside, there is comfort in this consistency as it also evidences stability and of course stronger resistance formed by owners. Saying that I believe that this consistency was somewhat already priced in Buyers’ expectations during the past months and it can’t provide additional steam to asset prices at this stage.
The fact that ships are not operating anymore at sub-OPEX levels as they did during the better part of 2016, is indeed encouraging for a lot of owners who contemplate buying, but the decisive factor is purely the overall picture that the fleet has. Regulations, not excessive order books and lack of financing, are all factors highly anticipated to start having an impact on the supply and demand equilibrium between cargoes and vessels.
Currently, there is still overall decent movement on the SnP side. Buyers are inspecting and offering but there is a lot of restrain as far the levels at which respective vessels should be attained and how aggressively this marketed tonnage should be pursued at and in a way it makes sense that this sort of discipline is demonstrated.
Second-hand prices only rose earlier this year because perspective buyers were willing to offer and compete on tonnage. Now there is no such desire, at least not to the extent that there was before. Until the hire market moves up to levels that have not been reached during the past 6 years, Buyers will continue being the ones that dictate prices and with the exception of mid-spring, this trend has been very clear during the year so far.
Sellers have made a few attempts to push prices higher especially on larger vessels. It started on the Kamsarmax / Panamax size where the price of a 5-year-old flirted with levels of the respective newbuilding. The moment a non-eco Kamsarmax deal was close to the prices of a 2018 slot, buyers started to hold back with military discipline. During the same period, Capesize asset prices on reported deals, although still far from newbuilding price levels, also inspired Sellers to ask for more but Buyers held back in this instance as well.
We can list concluded deals and recent sales as well as failed sales and ships that are not sold for months, but the bottom line stays the same. This is and will remain for the better part of the remaining years of this decade purely a Buyers’ market, at least on the Dry Bulk side. This is not necessarily bad of course. After all, in a market that the hires are not super healthy, it’s good to know that there is still some control in the hands of the owners.
By Timos Papadimitriou
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.
|
|
Friday, 24 March 17
U.S COAL PRODUCTION ESTIMATE DECLINE 4.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.1 million short tons ...
Thursday, 23 March 17
CAPESIZE: TAKING A BREATHER AFTER RALLYING - BUT OUTLOOK FOR WEEKS TO COME NOT SCARY - FEARNLEYS
Supramax
In the Pacific the market seems somewhat slower this week, although healthy rates still being achieved said Fearnleys in its latest week ...
Thursday, 23 March 17
KOREA MIDLAND POWER COMPANY LIMITED INVITES BIDS FOR TOTAL 4.77 MILLION TONS OF BITUMINOUS COAL FOR ITS BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 2,090,000 Metric Tons of Bituminous coal f ...
Wednesday, 22 March 17
THE DRY BULK MARKET HAS UNDOUBTEDLY REBOUNDED SINCE THE SAME PERIOD LAST YEAR - KONSTANTINOS KONTOMICHIS
The Dry Bulk market has undoubtedly rebounded since the same period last year and currently enjoys healthier freight rates. The positive reversal i ...
Tuesday, 21 March 17
DESPITE THE CHALLENGING MARKET SITUATION IN 2016 THE DELTA DUNIA MAKMUR HAS ACHIEVED A NET PROFIT OF US$37 MILLION
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the period ended December 31, 2016.
Despite challenging marke ...
|
|
|
Showing 2091 to 2095 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Australian Coal Association
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- The University of Queensland
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
|
| |
| |
|
