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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slightly lower levels, while at the same time, candidate vessels that do not receive offers at desired levels, are not withdrawn from the market, as the upbeat sentiment is offering confidence that somewhere down the line Sellers will be able to get what they want.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, 07 August 15
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 528.1 MMST; DOWN 8.7% Y/Y - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.7 million shor ...
Thursday, 06 August 15
THE RATES FOR CAPES SHOOT UP LAST WEEK; GIVING THIS RECENT RALLY SOME MUCH NEEDED LEGS - INTERMODAL
COALspot.com: The Dry Bulk market noted another positive closing last week, entirely supported by Capesize performance, which managed to balance th ...
Thursday, 06 August 15
HARD COAL AND COKE IMPORTS TO GERMANY REACH NEW ALL-TIME HIGH OF 56.2M TONES IN 2014
Demand for German and imported hard coal In 2014, in 2014 fell by almost 8%, or 4.8m TCE, to 56.2m TCE.
According to German Coal Importer ...
Thursday, 06 August 15
SEABORNE WORLD TRADE IN STEAM COAL GROWS BY 3% YOY - GERMAN COAL IMPORTER ASSOCIATION
Global trade with hard coal, at 1,272m tones in 2014, increased by 35m tonnes or 3% in comparison with the previous year.
According to associa ...
Wednesday, 05 August 15
SHIPPING MARKET INSIGHT - KATERINA RESTIS
On July 14th, 2015 a historical consensus was reached in Vienna between Iran and the five permanent members of the U.N. Security Council, plus Germ ...
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- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- PTC India Limited - India
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
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