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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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Friday, 11 September 15
U.S'S WEEKLY COAL PRODUCTION WAS ALMOST FLAT PAST WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.6 million shor ...
Thursday, 10 September 15
U.S. H1' 15 STEAM COAL EXPORTS FELL BY 21 PER CENT Y-Y: EIA
Coal Trade
Slower growth in world coal demand, lower international coal prices, and higher coal output in other coal-exporting countries have all ...
Thursday, 10 September 15
INDONESIAN COAL BENCHMARK PRICE HITS A NEW LOW OF $58.21 PER TON
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price to US$ 58.21 per MT ...
Thursday, 10 September 15
IF NOT NOW, WHEN? - GIANNIS ANDRITSOPOULOS
Our industry is well known to be cyclical with some cycles lasting longer than others. Despite the fact that these shifts in the behavior of the fr ...
Wednesday, 09 September 15
FOB INDONESIA COAL SWAP LOSE GROUND ON SLOWING DEMAND
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week.
The 4Q swap declined $ 1.92 (-4.52%) per t ...
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Showing 2821 to 2825 news of total 6871 |
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- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- White Energy Company Limited
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Central Java Power - Indonesia
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