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Thursday, 17 September 15
MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
 Having experienced, as it was much anticipated, a poor 1st half combined with negative forecasts, summer, in sharp contrast, proved to be more hopeful for Dry Bulk owners. Following several months of rates barely above or even below OPEX, bulk carriers started to enjoy better rates sometime in the beginning of July. In the 3rd quarter, charterers became admittedly more active, absorbed more units and provided healthier rates. Consequently, higher returns started covering operational costs and gave a huge relief to managing companies that in their majority were counting losses for a long period of time, during which the S&P market aligned with the freight market.
In February the modern Kamsarmax M/V Flora Island (Abt 81k dwt 2012 Blt Korea) was sold at $18.4 mill. Later in June, the M/V Miraero Brave (Abt 81k dwt 2012 Blt Korea) was sold at a shade lower, $17.8 mill, obviously due to the negative pressure exerted on rates at the time. However in July the BDI started correcting upward and the similar vessel M/V Asita Sun (Abt 81k dwt 2012 Blt Korea) was been fixed at $20.2 mill, followed by its near sister vessel M/V Pinchat (Abt 81k dwt 2012 Blt Korea), the sale of which took place in August at $21.5 mill.
During the last few weeks, market sentiment is changing over again with the BDI now moving well below the 1,000 point threshold. Is it only a matter of time before asset prices follow along? During 2015 so far the index fell to 509 points and bounced back to 1222 points in August. Yet, even within this volatile environment the price of a 2012 Kamsarmax vessel increased by 16%. Today the BDI is approaching 800 points.
Financial instabilities that prevail in the majority of the developed countries together with the macroeconomic troubles that the rest of developing economies are facing, has resulted in the weakening of global trade that is severely affecting the Dry Bulk market. The future remains unsure. The constant growth in production of commodities is not only ensuring ample supply but also attractive prices. As demand growth for some of these commodities is faltering due to slower global economic growth, concerns that tonnage supply, despite all the scrapping, might still be too much in the medium term, remain present.
While waiting for a definitive market recovery, these ups and downs at the bottom of the shipping cycle create great short-term buying opportunities. When someone who is deciding which sector to invest in, is thinking about the condition of the global economy, the “ocean” might still be one of the safer ones out there.
By Konstantinos Kontomichis
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.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Thursday, 01 October 15
SOUTH KOREA'S KOMIPO SEEKS SPOT BITUMINOUS COAL SUPPLIES
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 265,000 Metric Tons (MT) of minimum 4,600 kcal ...
Wednesday, 30 September 15
Q1'16 FOB INDONESIA COAL SWAP FALLS $1.25 A TON AS SLIDE CONTINUES
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 0.72 (-1.78%) per t ...
Wednesday, 30 September 15
NEW BUILDING MARKET INSIGHT
COALspot.com: This year has been, beyond any doubt, a rather strenuous one for the newbuilding market. Ordering activity with regards to Dry Bulker ...
Tuesday, 29 September 15
FOB RICHARDS BAY COAL SWAPS ARE SLIDING
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 declined week over week and month over month.
The Q4 swap was down US$ ...
Monday, 28 September 15
API 5 FOB NEWCASTLE COAL SWAPS UP $2.15 IN ONE MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery increased $2.10 per ton (5.15%) month over month to US$ 42.93 per ton. The ...
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- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Australian Coal Association
- PTC India Limited - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Planning Commission, India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Posco Energy - South Korea
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- The University of Queensland
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
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