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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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Saturday, 09 January 16
BALTIC DRY INDEX SINKS 10% WEEK OVER WEEK TO AN ALL-TIME LOW OF 429 POINTS
COALspot.com: The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, decline around 10% we ...
Friday, 08 January 16
FOB INDONESIA COAL SWAP FOR DELIVERY H1'16 REMAIN FLAT AS DEMAND DROPS OFF
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month, flat week over week. The price for coal has been in a Dull Market sinc ...
Friday, 08 January 16
FOB RICHARDS BAY COAL SWAP FOR Q2'16 DELIVERY CLOSED UP $0.13 AT $45.50 PER TON
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap decline month over month and slightly up week over week.
The Q1’ 2016 FOB R ...
Friday, 08 January 16
WEEKLY US COAL PRODUCTION DECLINES 1.6% TO 11.7 MMST, SAYS EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.7million short ...
Friday, 08 January 16
DRY BULK MARKET'S CRISIS DEEPENS AS RATES ARE DROPPING TO NEW RECORD LOWS BY THE DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Just when you would think that the dry bulk market is reaching its bottom, even as it has long surpassed all-time lows, each day that passes by at ...
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Showing 2616 to 2620 news of total 6871 |
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- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
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