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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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Monday, 28 September 15
CAPESIZE FLEET INCREASES BY JUST 1 VESSEL DURING LAST 12 MONTHS, IN POSITIVE SIGN FOR DRY BULK SHIPPING MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
After a rather tumultuous period, the shipping industry and more particular the dry bulk market has started to adjust to the new realities of globa ...
Monday, 28 September 15
Q1'16 CFR SOUTH CHINA COAL SWAP ROSE 2.73 PER CENT M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery moved upward US$ 1.45 (3.04 %) per ton month over month.
A commodity ...
Sunday, 27 September 15
THE PANAMAX INDEX FELL 1.19 PCT WEEK OVER WEEK
COALspot.com: The BDI closed Friday (25/09/2015) at 943 points, down by 17 points compared to previous Friday closing (18/09/2015). The BDI wa ...
Friday, 25 September 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING SEPTEMBER 19 ROSE 2.5% PER CENT W-W
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.8 million shor ...
Wednesday, 23 September 15
CAPESIZE: SPOT RATES HAVE INCREASED MORE THAN 70 PER CENT DURING LAST WEEK
Dry Bulk owners, always look at September as the time that the market “signals” what lies ahead for the remainder of the year. The Chin ...
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- Planning Commission, India
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
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