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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slightly lower levels, while at the same time, candidate vessels that do not receive offers at desired levels, are not withdrawn from the market, as the upbeat sentiment is offering confidence that somewhere down the line Sellers will be able to get what they want.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, 05 August 15
COAL CONSUMPTION POSTED THE STRONGEST GROWTH AMONG THE FOSSIL ENERGY SOURCES IN 2014 - VDKI
Coal 2014: again the world's fastest-growing primary energy source and an indispensable asset for the success of the energy turnaround.
Ac ...
Wednesday, 05 August 15
FOB INDONESIA THERMAL COAL SWAPS FALL
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week, this past week.
The 4Q swap was declined $ ...
Wednesday, 05 August 15
DRY BULKER PRICES START TO FIRM UP AS MARKET SENTIMENT IMPROVES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Market pessimism in the dry bulk industry, a trend which had established itself over the course of the year, has started to fade away over the past ...
Tuesday, 04 August 15
FOB RICHARDS BAY COAL SWAPS CONTINUE TO FALL DUE TO SLIDING DEMAND
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, 04 August 15
SHIPPING CYCLES - A CHESS GAME YOU DON'T WANT TO LOSE - CLARKSONS
Ingmar Bergman’s classic movie The Seventh Seal is about a knight who, during the Black Death, challenges Death to a chess match, in the hope ...
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- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- White Energy Company Limited
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Planning Commission, India
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
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