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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, 08 September 15
FOB RICHARDS BAY COAL SWAPS CONTINUE TO SHOW DECLINING TREND
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$ ...
Tuesday, 08 September 15
GANGAVARAM PORT IN INDIA DISCHARGES RECORD 112,599 MT OF STEAM COAL IN 24 HOURS
COALspot.com: Gangavaram Port, an all weather, multipurpose port with water depth up-to 21 meters, capable of handling fully laden Super Cap ...
Monday, 07 September 15
THE MINE OF THE FUTURE WILL HAVE ONLY TWO EMPLOYEES, A MAN AND A DOG - SCOTT MCGOWAN
"The Technology and Innovation in Mining 2015" production team at Information Exchange Group interviewed Scott Mcgowan, Director, Global ...
Monday, 07 September 15
FOB NEWCASTLE COAL SWAP FOR Q2' 16 DELIVERY CLOSED US CENTS 25 LOWER COMPARED TO Q4' 15
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery declined $0.73 per MT (-1.68%) month over month to US$ 42.65 per mt. The sw ...
Monday, 07 September 15
CFR SOUTH CHINA COAL SWAPS ROSE 1.1 PER CENT WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.52 (3 %) per MT month over month.
A commodity sw ...
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Showing 2826 to 2830 news of total 6871 |
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- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Aditya Birla Group - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
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