We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 11 March 20
SHIPPING MARKET INSIGHT - INTERMODAL
 On the 4th of September the Baltic Dry Index marked its highest level for 2019, reaching 2,518 points, while the rest of the dry indices also recorded year-high levels that week with the daily average for Capesize reaching $38,014, for Panamax 76k $ 18,116 and for Supramax $15,233.
Healthy earnings like that was exactly what was needed as the 1st half of 2019 was really bad but the SnP market failed to see increased interest for inspections of available ships and activity was kept rather low compared to what someone would expect given the spot rates at the time.
Instead of accepting offers below their expectations, most Sellers were thinking that it would be better to keep the ship and fix on period instead. And it was a valid argument since fixing on period really made sense as rates back then could cover opex, bank repayments and still allow for a good profit. As appetite for second-hand tonnage was limited, it failed to ignite competition among prospective Buyers and restricted asset values from appreciating as a result.
So the reason why we didn’t see SnP prices going up was because Buyers were reluctant to become bullish for the long run. The fact that the market was coming from a very bad 1st half of 2019 together with the low levels (far below September’s highs) FFAs for q1 –q2 2020 were indicating, scared off many Buyers and consequently denied premiums on values.
Something that no-one could predict back then was what would the effect of IMO 2020 bunkers regulation would be. The regulation that was enforced on 1st of January drove at some point the price of the new fuel to double the old fuel price (350usd/tone Vs 700usd/ton). This was at a time when the market had already corrected from the highs of September 2019 down to the 976 points (2nd of January 2020) and with the Chinese holidays just around the corner, sentiment for the first quarter of the year was already soft as soon as January kicked off and without the coronavirus dramatic spread news having hit headlines yet at that point.
Capes were the ones affected the most, with the Baltic Capesize Index turning negative for the first time ever, pushing the BDI to the lowest point for 2020 on 10th of February (411 points).
The SnP market inevitably has been affected with relatively few sales reported for ships less than 10 years old. In the Kamsarmax sector, the M/V OLYMPIC GALAXY (81K 2009 Japan)-BWTS fitted) was sold last week for USD 13,5m to Greek buyers, which represents a discount from the USD 15,65m that the M/V KM TOKYO (83K 2010 Japan) fetched in November 2019. Furthermore the M/V MEDI HONG KONG (82K 2006 Japan) was sold to Qatari buyers for USD 9,25m, whereas in September 2019 the M/V YASA NESLIHAN (82K 2005 Japan) was sold for USD 11,5m.
Despite the discounts recorded, there are not so many candidates available for sale at levels showing that Owners are willing to face last dones, with many Sellers anticipating that the market will recover sooner rather than later. Indeed, we have been seeing a positive correction for Panamax/Kamsarmax rates lately, while it remains to be seen if and when the Capesize market, which still witnesses a negative BCI, will recover.
By Costas Hardalis
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.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.
|
|
Tuesday, 24 March 20
THE TRIPLE SHOCK OF CORONAVIRUS IN SHIPPING: WILL IT LAST? - DREWRY
Transport capacity shortages, disruptions to supply chains and inability to plan since late January have been a dangerous combination. But will all ...
Tuesday, 24 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.28 PCT - XINHUA
China Taiyuan coal transaction price index stood at 132.74 points Monday, down 0.28 percent week on week.
The index, released by Chi ...
Monday, 23 March 20
CHARTERPARTY REQUIREMENTS TO NOTIFY CLAIMS - TAKE CARE! - WFW
KNOWLEDGE TO ELEVATE
Voyage charterparties frequently require the owner to notify any claim with supporting documents within a relatively shor ...
Monday, 23 March 20
COAL INDIA LIMITED'S ONE-DAY OUTPUT PEAKS AT 3.17 MT - THE HINDU
Coal India Limited (CIL) output peaked at a new high of 3.17 million tonnes (MT) on March 20, overtaking the 3.14 MT production recorded on March 2 ...
Monday, 23 March 20
KOMIPO INVITED BIDS FOR 1.45 MILLION TONS OF COAL FOR JUNE & JULY 2020 LOADING
COALspot.com: Korea Midland Power Co.,Ltd (KOMIPO), on behalf of five Korean Gencos, has issued an international tender for total 1,450,000 MT (&pl ...
|
|
|
Showing 1051 to 1055 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- The University of Queensland
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
|
| |
| |
|
