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.
|
|
Saturday, 21 March 20
PANAMAX: 82,000DWT SHIP AGREED $4,250 FOR A COAL TRIP VIA INDONESIA REDELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
The Capesize market made some headway this past week despite being buffeted by the global pandemic storm. With the market in a constan ...
Friday, 20 March 20
VOLATILITY TO INCREASE IN TANKER MARKET FOLLOWING OIL PRICE WAR - DREWRY
Crude oil prices plunged by more than a third in the past week after OPEC+ failed to agree on production cut as demand softened in the aftermath of ...
Friday, 20 March 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Friday, 20 March 20
OIL PRICES COULD FALL BELOW ZERO: ANALYST - FOX BUSINESS
Plunging oil prices could be headed a lot lower – possibly below zero, according to one Wall Street analyst.
West Texas Interm ...
Friday, 20 March 20
84% OF FEBRUARY BUNKER SALES IN SINGAPORE ARE LOW-SULPHUR FUELS - BIMCO
Low-sulphur fuels accounted for 84% of total February sales in Singapore, slightly up from 83% in January. The sale of low-sulphur fuel oil (LSFO) ...
|
|
|
Showing 1056 to 1060 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Minerals Council of Australia
- Thiess Contractors Indonesia
- The University of Queensland
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
|
| |
| |
|
