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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slightly lower levels, while at the same time, candidate vessels that do not receive offers at desired levels, are not withdrawn from the market, as the upbeat sentiment is offering confidence that somewhere down the line Sellers will be able to get what they want.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, 19 August 15
FOB INDONESIA COAL SWAPS CONTINUE FLAT TREND LINE THIS WEEK
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and flat week over week, this past week.
The 4Q swap was decli ...
Tuesday, 18 August 15
DRY BULK: MARKETS HAVE CONTINUED TO BE SEVERELY CHALLENGED - CLARKSONS
The dry bulk markets have continued to be severely challenged with freight rates falling during the period to below operating expense. The Baltic D ...
Tuesday, 18 August 15
1Q'16 FOB RICHARDS BAY COAL SWAP FALLS BELOW $54 A TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
Tuesday, 18 August 15
2Q' 16 FOB NEWCASTLE COAL SWAP CLOSED AT $43 PER MT W/E 14 AUGUST
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 1.08 per MT (-2.46%) month over month to US$ 42.82 per mt. The swap ...
Monday, 17 August 15
TROUBLED DRY BULK MARKET FACES TURMOIL AS CHINESE COAL IMPORTS REMAIN WEAK - BIMCO
The demand for coal in China continues to diminish. So much in fact that India is expected to succeed China as the world’s largest imp ...
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- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Interocean Group of Companies - India
- The University of Queensland
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
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