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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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- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Australian Coal Association
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
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