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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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Wednesday, 17 February 16
TAP ON OPPORTUNITIES IN GROWING ELECTRICITY DEMAND AND NEW COAL POWER PROJECT DEVELOPMENTS IN THE PHILIPPINES - IBC
Tap on Opportunities in Growing Electricity Demand and New Coal Power Project Developments in the Philippines
Coal Power Generation 2016
19- ...
Wednesday, 17 February 16
THE OWNERS FACING HISTORICAL LOW DRY BULK RATES; COAL IMPORTS TO CHINA IS STILL POINTING TO A STRONG TREND OF DECLINING CONSUMPTION
The sharp fall in dry bulk rates that has been taking place since the end of last year and has left owners facing historical low rates for a substa ...
Monday, 15 February 16
CALL THE DOCTOR! SHIPPING'S MEDICAL DRAMA UNFOLDS......- CLARKSONS
The recycling market has started 2016 with a bang, with a huge volume of tonnage heading to demolition facilities. Many of the key shipping markets ...
Monday, 15 February 16
CS 42 COAL INDEX ROSE 0.07% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.15 percent week over week to averaging $38.96 per ton on this past Friday, ...
Monday, 15 February 16
BALTIC INDEX MARGINALLY ROSE BY A POINT D-D; CAPESIZE INDEX DOWN 13 POINTS W-W; PANAMAX INDEX UP 29 POINTS W-W
COALspot.com: The freight markets continued to fall this past week.
The BDI, The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measu ...
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- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Minerals Council of Australia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
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