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