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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slightly lower levels, while at the same time, candidate vessels that do not receive offers at desired levels, are not withdrawn from the market, as the upbeat sentiment is offering confidence that somewhere down the line Sellers will be able to get what they want.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, 14 August 15
CONDITIONS AND COMPLEXITIES IN A TRIPARTITE AGREEMENT: BE SPECIFIC! - INCE & CO
KNOWLEDGE TO ELEVATE
A tripartite agreement reached between the Owners, the Shippers and the Receivers provided that demurrage be paid to the ...
Thursday, 13 August 15
THE RATES FOR CAPES KEPT RALLYING LAST WEEK - INTERMODAL
COALspot.com: Strong Capesize performance kept supporting the Dry Bulk market last week, which noted another positive weekly closing, while rates f ...
Thursday, 13 August 15
FOB RICHARDS BAY COAL SWAPS CONTINUE FALLING
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$ ...
Wednesday, 12 August 15
REGULATION CURBS POWER OF LOCAL AUTHORITIES IN MINING SECTOR IN INDONESIA - FLORENCE G. SANTOSO
The Indonesian Government appears to be getting serious about stripping Regents of the authority to issue mining licenses. The Government took the ...
Wednesday, 12 August 15
FOB NEWCASTLE COAL SWAP FLAT WEEK OVER WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 0.98 per MT (-2.20%) month over month to US$ 43.65 per mt. The swap ...
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- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Australian Coal Association
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- The University of Queensland
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- White Energy Company Limited
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
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