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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, 13 January 16
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Going through the second week of 2016 we could easily argue that at this point there are no visible signs of an imminent recovery in the Dry Bulk m ...
Wednesday, 13 January 16
IRON ORE IMPASSE - A FAILED CLAIM FOR CONVERSION - CLYDE & CO
KNOWLEDGE TO ELEVATE
In the recent case of the “Bao Yue”, the English High Court found that the bill of lading holder was liable t ...
Tuesday, 12 January 16
5700 GAR COAL FOR DELIVERY WITHIN Q1 FELL 0.91% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin moved South direction week over week to averaging $39.96 per ton on last Friday, acc ...
Monday, 11 January 16
PORT OF NEWCASTLE SHIPPED 20% MORE COAL IN DECEMBER 2015; AVERAGE SELLING PRICE DECLINE 3.43%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $1.129 billio ...
Sunday, 10 January 16
LNG BUNKERING IN ASIA: FUELING A PROMISING FUTURE? - REED SMITH
The requirement of a mandatory reduction of sulphur content in bunker fuel proposed by the International Maritime Organisation (IMO) poses a challe ...
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Showing 2611 to 2615 news of total 6871 |
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- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Australian Coal Association
- VISA Power Limited - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
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