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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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Tuesday, 15 September 15
API 5 FOB NEWCASTLE COAL SWAP FOR 4Q' 2015 DELIVERY CLOSED AT $42.71 PER TON ON 11 SEPT, SGX DATA SHOWS
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery declined $0.94 per MT (-2.15%) month over month to US$ 42.71 per mt. The sw ...
Monday, 14 September 15
Q1'16 CFR SOUTH CHINA COAL SWAP DECLINED $1.80 PMT M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.62 (3.21 %) per MT month over month.
A commodity ...
Monday, 14 September 15
MOODY'S LOWERS COMMODITY PRICE ASSUMPTIONS ON MACRO, INDUSTRY FACTORS
COALspot.com: Moody's Investors Service has lowered its base metal price assumptions for 2015-17 as slowing growth in China, lower oil prices, ...
Sunday, 13 September 15
FREIGHT RATES ARE EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The BDI decreased further by 6.51 per cent or 57 points since last Friday and closed at 818 on 11 September 2015 while the cape index ...
Friday, 11 September 15
SHIPPING MARKETS SHOW MIXED EMOTIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has managed to show marginal improvements over the past few days, with the Capesize segment faring better than smaller dry bulk ...
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Showing 2816 to 2820 news of total 6871 |
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- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Planning Commission, India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
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