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Wednesday, 20 January 16
SHIPPING MARKET INSIGHT - NASOS SOULAKIS
 If you believe in the “January effect”, the theory according to which the beginning of a new year has a positive effect on financial indicators, then stock markets across the world have been set to disappoint you this year.
China’s stock market is leading the way, having lost about 20% of its value since December; a free fall that was suspended only after automatic procedures that halted any transactions came into effect. Even though some analysts have blamed structural particularities of the Chinese stock market itself for the magnitude of this sharp fall, no one should rule out the fact that beyond structural problems and non-efficiencies, the downward move could very well be the long-overdue bursting of the Chinese stock bubble.
The same negative course, during the first days of the year, was followed by the rest of the stock markets in the United States and in Europe. In particular, both the NASDAQ and the Dow Jones indices are facing their worst month during the last seven years. Energy stocks like BP or Exxon are under severe pressure, impacted by falling oil prices that are now below $30/barrel for the first time after more than 13 years and with numerous market experts believing that it may even fall below $20/barrel in the next months.
If this wasn’t enough, Iran, having been out of the market for ten years is about to add its own oil production to the global supply; a fact that will exert further pressure on prices. This is expected to generate additional stress on the rest of the oil producing countries.
Besides Iran, whose economy is expected to undergo a major boom, tanker owners are among the few winners of the aforementioned developments. Tanker rates remain at very satisfactory levels, although owners are cautious on whether rates can be sustained at these levels or if they will experience a downward correction during 2016. Last week’s sharp fall in the crude carriers market acted as a definite reminder of how volatility, which hasn't been experienced much on the tanker side since the end of 2014, can quickly result in profits evaporating and further added to owners concerns for this year. This is already being observed in the second hand market where owners are developing modern vessels for sale, particularly MRs, something that could possibly lead to a short term oversupply of sale candidates and drive prices south depending of course on whether owners are actually willing to sell or if they are just testing the market.
At the same time, the dry bulk market is still struggling, with consecutive historical lows marked last week again. This has significantly affected market sentiment and it has now become a widespread opinion that 2016 will mark the absolute bottom. A point of optimism is the fact that big players that abstained from the dry bulk investments for a while, like East Med or Anangel, are now stepping off the sidelines and doing so by investing mostly on larger vessels like Capes, these being currently sold at the highest discount in the second hand market.
In this rather unstable environment and on the background of an explosive geopolitical environment one thing remains certain and this is that the shipping industry is facing one of the most challenging and interesting times in its history.
Besides the “January effect” there is also the “January barometer” hypothesis, which states that the first month of the year sets the tone for the entire year. From our side, let us just hope that this will not be the case for 2016.
By Nasos Soulakis
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, 03 March 16
BDI FURTHER STRENGTHENING; THE INCREASE IN RATES WAS NOT SUBSTANTIAL
COALspot.com: The BDI closed off on a positive note for a second week in a row, further strengthening the belief that the market might be bottoming ...
Thursday, 03 March 16
RIO TINTO COMPLETES SALE OF INTEREST IN BENGALLA JOINT VENTURE FOR US$616.7 MILLION
COALspot.com: Rio Tinto has completed the sale of its 40 per cent interest in the Bengalla coal Joint Venture in Australia to New Hope Corporation ...
Wednesday, 02 March 16
RE-EVALUATION OF MINING LICENSES CLEAN AND CLEAR STATUS IN INDONESIA
COALspot.com: In connection with the transfer of mining authority from Regents/Mayors to Governors1 and from Regents/Mayors and Governors to t ...
Wednesday, 02 March 16
OIL MY GOD.....!!!!
OIL my GOD….!!!!
The oil price “crash” that started in 2014 was caused by a glut of practically unwanted oil. Producers had be ...
Tuesday, 01 March 16
CS 42 (4200 GAR) COAL INDEX CLOSED AT US$ 27.11 A TON ON 26 FEBRUARY
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.31 percent week over week to averaging $38.77 per ton on this past Friday, ...
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Showing 2541 to 2545 news of total 6871 |
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- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- The University of Queensland
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