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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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- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- The University of Queensland
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- PTC India Limited - India
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
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