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Wednesday, 03 February 16
DRY BULK MARKET CONTINUES TO BE UNDER PRESSURE - INTERMODAL
 The Dry Bulk market continues to be under pressure, with the BDI remaining in search of even the slightest support, which seems to be delaying more and more, while marking consecutive all-time lows throughout last week.
Freight rates in the sector are currently so low that fail to cover the vessels’ net OPEX (i.e. without taking into account possible financing). The unprecedented low earnings have been weighing down on prices and it goes without saying that are expected to keep doing so.
Yards focusing on building bulkers currently stand idle, with activity being almost non-existent. In the second hand market the number of vessels available for sale is notably high with plenty of candidates across all ages and potential Sellers considering and accepting in some cases, levels that a few months back they wouldn’t even discuss.
This is without a doubt an adverse reality, but there are nonetheless factors that could help improve the state of the dry bulk market in the medium run.
Lay-ups
All of the above are more or less known to all of us and they don’t need any further analysis as a number of voices have referred to them repeatedly over the past years. Another factor that could accelerate the market’s rebound and has only recently re-appeared in the equation, are lay-ups.
The latter monopolizes discussions as it is perceived as the last resort, bringing back memories from the 80’s crisis. We are currently approaching, if not already there, the point where daily losses will be higher than lay-up costs. Many nonetheless believe that even if we reach a meaningful number of lay-ups during the first months of the year, a possible market rebound, even a small one, during the last two quarters of 2016 will be overshadowed by the number of vessels exiting the lay-up condition amidst an improved market condition. But for an owner to have the incentive to pay all the necessary expenditures (repairs, surveys etc.) to make a vessel operational again, this means that earnings must have returned to levels well above OPEX, which in itself sort of secures a softer negative impact on rates once previously laid-up tonnage re-enters the market.
All of the above represent general trends the exact effect of which is difficult to calculate at the moment, let alone the timing this will kick in. Yet, combined with a possible increase in the supply of cargoes, they might positively affect the overall market sentiment even as soon as during the 2nd half of 2016. Fingers crossed.
Demolition
Until last October, Dry Bulk vessels built before 1995 could not easily find Buyers. Today these vessels, now over 15 years old, have completely ceased to attract any interest. If the market remains depressed, Buyers will even stop looking at vessels above 10yrs old, as differences in price margins between these and even younger vessels is currently very small.
Hence, for those owners who are willing or forced to sell, demolition remains their only option. Despite the fact that prices offered in the Indian subcontinent are currently the lowest in almost 8 years, the number of vessels that are heading for scrap keeps increasing rapidly.
Newbuilding
As mentioned above, demand for newbuildings in the Dry Bulk sector is totally absent. As the amount of deadweight to be delivered starting 2017 onwards becomes meaningless, this will also help the market, but this is obviously an effect that will not be enjoyed until then. Yet, the volume of cancelations, combined with slots that are converted to tankers should at some point help the market reach a healthier supply-demand relationship.
By Konstantinos Kontomichis
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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Thursday, 28 January 16
RICHARDS BAY COAL SWAPS FOR Q1,Q2 AND Q3 DELIVERIES FIRM THIS PAST WEEK
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap rose month over month and week over week.
The Q1’ 2016 FOB Richards Bay Coa ...
Wednesday, 27 January 16
API 5 FOB NEWCASTLE COAL SWAPS CLOSE MIXED
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $1.17 per ton (3.13%) this past week compared to the sam ...
Wednesday, 27 January 16
CHINA'S STALLING ECONOMY HAS HAD A GREAT EFFECT ON VARIOUS COMMODITIES; DECREASED DEMAND DRIVING COMMODITY PRICES LOWER AND LOWER - LINOS ALEXANDROS KOGEVINAS
Having gone through the first few weeks of 2016, it’s starting to look like another challenging year is ahead of us. Hopes for a recovery in ...
Wednesday, 27 January 16
WORLD HARD COAL PRODUCTION AND CONSUMPTION DECLINE IN 2015 FOR THE FIRST TIME IN OVER A DECADE - VDKI
COALspot.com: Seaborne hard coal trade and the changes in this area were decisively affected by China and India - VDKi.
China bears the g ...
Tuesday, 26 January 16
Q3'16 CFR SOUTH CHINA COAL SWAP DROPPED BELOW $41 A TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.82 (1.94%) per ton month over month.
A commodity swap is ...
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Showing 2586 to 2590 news of total 6871 |
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- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- The University of Queensland
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
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