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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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Sunday, 06 September 15
AUTOMATION AND TECHNOLOGY IS CERTAINLY PART OF THE SOLUTION FOR IMPROVING PERFORMANCE AND EFFICIENCY TO MAKE THE MINE OPERATIONS MORE PROFITABLE, HOWEVER............ - LUKE JALSEVAC
"The Technology and Innovation in Mining 2015" production team at Information Exchange Group interviewed Luke Jalsevac, Director, Busines ...
Sunday, 06 September 15
THE CAPE SIZE INDEX ROSE 10.83 PER CENT WEEK OVER WEEK
COALspot.com: The BDI, the Baltic exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, declined o ...
Saturday, 05 September 15
DRY BULK MARKET MAY SUFFER NOW, BUT IS BOUND FOR A RECOVERY THANKS TO A LIMITED FUTURE FLEET GROWTH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The slow increase of dry bulk tonnage growth this year could turn into a solid indicator of the market’s future prospects. According to a rec ...
Friday, 04 September 15
U.S. COAL PRODUCTION FOR THE W/E AUGUST 29, UP SLIGHTLY; FALL 4.5 PERCENT Y-Y: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.7 million shor ...
Friday, 04 September 15
GOVERNORS WILL HAVE THE POWER TO REVOKE MINERS' PERMITS: ENERGY MINISTRY - JG
Starting Oct. 1, Indonesia's governors will lawfully become "executors" in revoking the licenses of miners that fail to secure a &quo ...
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- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
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