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, 15 February 20
AFRAMAX: A MORE POSITIVE ATTITUDE EXISTED IN THIS SECTOR WITH RATES IMPROVING ON ALL ROUTES - BALTIC BRIEFING
VLCC
The market in the Middle East was unmoved this week, with Chinese refiners continuing to slow imports, allied with the impact of the Coron ...
Saturday, 15 February 20
A 56,000DWT VESSEL WAS CONCLUDED BASIS DELIVERY SINGAPORE VIA INDONESIA REDELIVERY CHINA IN THE LOW $6,000S - BALTIC BRIEFING
Capesize
Riding the downward momentum of the previous week, the market was always going to be hard pressed to make any sort of revival. With mu ...
Saturday, 15 February 20
U.S. COAL PRODUCTION WILL TOTAL 595 MMST IN 2020, DOWN 14% FROM 2019 - EIA
EIA forecasts that U.S. coal production will total 595 million short tons (MMst) in 2020, down 95 MMst (14%) from 2019.
Lower ...
Friday, 14 February 20
WHY THE WORLD ECONOMY WILL BE FACING CHINA'S CORONAVIRUS FOR A LONG TIME - CNBC
Everywhere we look we see the headlines and commentators talking about the coronavirus and its impact on tourism, trade and investment between Chin ...
Friday, 14 February 20
KOWEPO INVITED BIDS FOR 1.275 MILLION TONS OF MIN. 5,600 NCV COAL
COALspot.com: Korea Western Power Co. Ltd (KOWEPO). as a representative of five Korean Gencos has issued an international tender for total 1,275,00 ...
|
|
|
Showing 1131 to 1135 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- London Commodity Brokers - England
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- GMR Energy Limited - India
- PTC India Limited - India
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Parliament of New Zealand
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Planning Commission, India
- Ambuja Cements Ltd - India
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Tata Chemicals Ltd - India
|
| |
| |
|
