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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, 21 September 15
KOMIPO OF KOREA INVITES BIDS FOR BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 390,000 Metric Tons (MT) of minimum 4,600 kcal ...
Sunday, 20 September 15
BALTIC CAPE INDEX ROSE 66.52 PER CENT AND STAND NOW AT 1995 POINTS
COALspot.com: The BDI (Baltic Dry Index) rose 17.35 per cent week over week to 960 points on Friday mainly driven by the Capesize segment. The Cape ...
Friday, 18 September 15
SHIPPING AND THE FED RATE DECISION: FINANCING COSTS COULD RISE EVEN HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Regardless of the FED’s decision to raise rates, shipping stands to be influenced by the decision. Shipbroker Allied Shipbroking noted this w ...
Friday, 18 September 15
U.S. COAL PRODUCTION DECLINED 6.7 PER CENT W-W: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.4 million shor ...
Thursday, 17 September 15
COALSPOT HAS LAUNCHED NEW THERMAL COAL INDICES FOR INDONESIAN COAL
COALspot.com has today launched real-time CS (i) Coal Indices.
The Indices represents 3800 kcal/kg GAR, 4200 kcal/kg GAR, 5000 kcal/kg GAR a ...
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Showing 2806 to 2810 news of total 6871 |
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- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
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