We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 06 March 19
SHIPPING MARKET INSIGHT - INERMODAL
 In a downward moving market, softer SnP activity is usually a given, as the gap between Sellers’ and Buyers’ ideas widens, especially when the drop in rates takes place in a relatively short period of times, which was the case recently. Aside from the levels of the market and the respective number of deals as this is depicted in the table below, what might be even more interesting to look at is whether in these cases asset prices also moved in tandem with SnP activity and to what degree.
In the case of the 28kdwt Japanese Handy, the number of sales during the first two months of 2017 was more than double compared to the same period this year. Two years ago a 2006 built vessel was valued at high USD 5 million, while the same amount of money will today get you a 2004 built vessel –four years older – even though the BHSI is around the same levels.
As far as Supramax SnP ytd activity is concerned, this is decreased around 30% compared to 2017, while prices are today at relatively higher levels. Indeed, a 57k dwt 2011 Chinese built vessel was valued at around mid- USD 9 million back then, while a 57k dwt 2011 Chinese built Supra was fixed today for high- USD 9 million.
The fact that a very bad year preceded Q1 2017 certainly allowed for more deals back then, with Buyers being hungry for tonnage, after the market had finally started to move up, and Sellers being “exhausted” following many challenging months and ready to accept lower levels. In trying to offer an explanation for the price resistance one could say that Buyers could be already cashing in an extended recovery in rates (after all earnings have already been improving for all other sizes but Capes), which renders them more aggressive in securing tonnage in a market that had already seen a number of candidates being withdrawn.
So the anxiety that this could be a window of opportunity to invest that could be soon closing as the market recovers plays a significant role in supporting asset prices. Many are indeed expecting that prices will not adjust accordingly to today’s rates and that positive freight performance from a point onwards will eventually result in even higher prices, which in retrospect will render todays levels as the window of opportunity. So maybe it is time to redefine what “window of opportunity” means and whether this is a short term correction in prices compared to the very recent past or a longer period during which asset prices align with earnings.
By Nassos Soulakis
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
George Panagopoulos
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, 06 February 19
THE BDI HAS EASED BACK TO 645 BP, ITS LOWEST LEVEL SINCE AUGUST 2016 - ALLIED
The dry bulk sector is in the doldrums, with most market participants seemingly left utterly perplexed, and simultaneously, in pursuit of any posit ...
Monday, 04 February 19
COAL STILL IN HIGH DEMAND GLOBALLY
Although the world is switching to renewable energy there is still a big demand for coal around the globe.
This is according to Cany ...
Friday, 01 February 19
ULTRAMAX WAS FIXED DELIVERY KALIMANTAN, FOR TRIP TO WEST COAST INDIA AT $7,000 - BALTIC BRIEFING
Capesize
The Vale dam tragedy sparked a sharp fall in rates across all regions even where tonnage remained tight. The potential loss of product ...
Friday, 01 February 19
SEMBCORP SELECTS NORDEN FOR LONG-TERM INDIAN CONTRACT
NORDEN A/S has signed a 10-year Panamax Contract of Affreightment (COA) with Indian utility firm Sembcorp Energy India Ltd.
From 1 A ...
Tuesday, 29 January 19
HARD COAL BEARS THE BRUNT OF THE RECOMMENDATIONS OF THE COMMISSION GROWTH STRUCTURAL CHANGE AND EMPLOYMENT - VDKI
Press Release: Hard coal bears the brunt of the recommendations of the Commission Growth Structural change and employment.
In its fi ...
|
|
|
Showing 1476 to 1480 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- White Energy Company Limited
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
|
| |
| |
|
