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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slightly lower levels, while at the same time, candidate vessels that do not receive offers at desired levels, are not withdrawn from the market, as the upbeat sentiment is offering confidence that somewhere down the line Sellers will be able to get what they want.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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Wednesday, 26 August 15
2Q'16 FOB INDONESIA COAL SWAP FALLS NEARLY 4.76 PER CENT M-O-M
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week.
The 4Q swap was declined $ 2.20 (-5.13%) p ...
Tuesday, 25 August 15
INDONESIA MINERS' NPLS TO RISE FURTHER, BANK RISKS BUILD - FITCH
The NPLs of Indonesian mine and mine services companies are likely to rise further in the short term, says Fitch Ratings, after reaching multi-year ...
Tuesday, 25 August 15
MINER'S EARNINGS DROP ON FALLING COAL PRICES; Q2'16 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 52.23 A TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
Monday, 24 August 15
FOB NEWCASTLE COAL SWAPS HIT FRESH LOW, DIPPING BELOW $42 A TON
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 2.20 per MT (-5.01%) month over month to US$ 41.70 per mt. The swap ...
Monday, 24 August 15
Q1'16 CFR SOUTH CHINA COAL SWAP CLOSED AT $ 48.65 PMT
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.89 (3.74%) per MT month over month.
A commodity ...
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- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- The University of Queensland
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
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