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Wednesday, 12 August 15
DRY BULK MARKET: WITHOUT A DOUBT REACHED HEALTHIER LEVEL
 A few weeks before the end of the summer season, the BDI is hovering around 1,200 points, providing some much needed optimism to all Dry Bulk market participants, alleviating at the same time some of the pressure that the extremely poor market of the last months had created.
Rates in the past weeks have without a doubt reached healthier levels, heating up market talk that the bottom has been reached and that going forward the market will keep firming, pushing up asset values as well, especially in the case of modern tonnage.
It is important to note that for over a month now, Sellers are fixed on their initial ideas and do not appear keen at all to negotiate at even slightly lower levels, while at the same time, candidate vessels that do not receive offers at desired levels, are not withdrawn from the market, as the upbeat sentiment is offering confidence that somewhere down the line Sellers will be able to get what they want.
Simultaneously, active Buyers that have been behind a number of inspections during the past couple of months, now start to feel more pressure as they do not want to lose the opportunities created before the market started recovering. As the BDI is climbing back up, Sellers will try to squeeze out of their vessels as much as they can, being also helped by the intense buying interest out there.
It therefore seems that prices are bound to move up, while despite the fact that August is traditionally a quiet month in terms of SnP activity, this year might be the exception. In fact, judging from the first 10 days into the month, activity together with inspections remain ample, while most inspections nowadays lead to offers, as Buyers prefer offer now rather than wait and risk the market moving further up.
This willingness on behalf of Buyers, who seem to be rushing to secure a “good” deal as soon as possible, is bound to create further competition, which if combined with a steady – if not continuously firmer - market, will almost certainly start leading to higher asset values sometime in September. Saying that, the scenario in which Buyers that were up until recently looking to negotiate below asking prices, could now become a bit disheartened to inspect could also come true, as they will soon become aware of the intensified competition that could in some cases result in offers not just around asking levels but even higher.
The demolition market is at the same time moving towards an entirely different direction. It has been over a month now that prices have been losing considerable ground, rendering potential Sellers entirely indifferent to the scrapping option, while in the case of Dry Bulk vintage tonnage, the improvement of the market has added to the refusal of owners to further consider scrapping. Opposite to the SnP market, expectations here are negative overall, with the main market hurdles, namely cheap Chinese steel, remaining well in place and expected to push prices to even lower levels in the following months.
So in a nutshell, we could definitely say that the first half of the year was the “Scrapping” half, and the second one has kicked off with a lot of potential to become the “Buying” half.
By Panos Makrinos
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 re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Friday, 28 August 15
DRY BULK SHIP OWNER OPTIMISTIC ABOUT FUTURE PROSPECTS OF THE MARKET: NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Dry bulk ship owner Golden Ocean appeared optimistic on the long term prospects of the dry bulk market, mainly thanks to an expected resolution of ...
Friday, 28 August 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING AUGUST 22 ROSE FOR THE THIRD STRAIGHT WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.5 million shor ...
Friday, 28 August 15
BANPU STRENGTHENS GROWTH PLAN
Coal Business: Asia-Pacific Synergies Increase Competitiveness for Premium Export Market.
Banpu Public Company Limited (BANPU) strengthens its ...
Thursday, 27 August 15
RATES FOR CAPES REMAINED ON A FREE FALL LAST WEEK - INTERMODAL
COALspot.com: Keeping everyone on their toes with the volatility seen in August, the Dry Bulk market undoubtedly remains a steady provider of chall ...
Wednesday, 26 August 15
MARKET INSIGHT - STRATOS TINIAKOS
It’s always interesting to comment on the market when big economies around the world are facing troubling times. Following the collapse of th ...
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- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Economic Council, Georgia
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- PTC India Limited - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- The University of Queensland
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
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