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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slightly lower levels, while at the same time, candidate vessels that do not receive offers at desired levels, are not withdrawn from the market, as the upbeat sentiment is offering confidence that somewhere down the line Sellers will be able to get what they want.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, 31 July 15
COAL PRODUCTION IN THE U.S. UP 3.6% FOR THE WEEK ENDING JULY 25
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.8 million shor ...
Friday, 31 July 15
CHINA'S NEW OIL IMPORT RULES HAVE MINIMAL IMPACT ON STATUS QUO - FITCH
Fitch Ratings says that China's looser criteria for crude oil import rights are a positive but modest step towards encouraging private-sector p ...
Thursday, 30 July 15
EFFECTS OF THE CHINESE STOCK MARKET CRISIS - INTERMODAL
All evidence is currently signaling that the Chinese stock market will be the newest hurdle for the global economy. With the world's second lar ...
Wednesday, 29 July 15
Q1'16 FOB INDONESIA COAL SWAP CLOSED HIGHER THAN Q3'15
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and gains week over week, this past week.
The Q3 swap was decl ...
Wednesday, 29 July 15
Q4' 15 FOB RICHARDS BAY COAL SWAPS DECLINE 4.41% TO $56.52 PMT
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was down US$ ...
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- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Bhatia International Limited - India
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
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