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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, 17 September 15
LOW DEMAND PUSH COAL SWAP DOWN
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and gain week over week.
The 4Q swap declined $ 1.77 (-4.17%) ...
Wednesday, 16 September 15
SLOWER GROWTH IN WORLD COAL DEMAND AND LOWER INTERNATIONAL COAL PRICES LED A DECLINE IN INDONESIAN COAL PRODUCTION
COALspot.com: Slower growth in world coal demand particularly China and lower international coal prices have led to a decline in Indonesian coal pr ...
Wednesday, 16 September 15
HIGHER TAXES COULD LEAD GREEK SHIP OWNERS OUT OF THE COUNTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
A potential taxation overhaul of the shipping industry in Hellas, which could see the loss of particular tax benefits for ship owners, could lead t ...
Tuesday, 15 September 15
WORLD SEABORNE TRADE: ENTERING INTO A ROLE REVERSAL? - CLARKSONS
Over the past decade, world seaborne trade growth has been dominated by dry bulk and container trade. However, developments in the global economy t ...
Tuesday, 15 September 15
Q2'16 RICHARDS BAY COAL SWAPS DIP TO $ 51.10 PER TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined week over week and month over month.
The 4Q swap was down US$ ...
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Showing 2811 to 2815 news of total 6871 |
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- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Parliament of New Zealand
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
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