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Wednesday, 08 June 16
THE DRY BULK MARKET KEPT MOVING SIDEWAYS LAST WEEK; SECOND HAND PURCHASES MOVING NORTH - INTERMODAL
 Once again its Posidonia time and the biannual exhibition takes place during a very warm June here in Athens, as if the performance of the dry bulk market during this year had not given us already enough reasons to sweat.
So far in the year 234 second hand transactions on the bulk side and 113 transactions on the wet have been reported. This shows a correlation between market confidence and opportunity recognition. To be more specific there is a lack of confidence on the wet side and a clear acknowledgment of investment opportunities on the dry side despite of the dismal earnings.
Literally every bulk carrier that enters the market gets sold as long as it is built post 1997. There were particular buying patterns along the past five months. At certain times Capes were the crowd’s favorites, while during other times Handysize vessels were being sold faster than freshly baked cupcakes.
Buyers’ preference shifted from size to size. Bigger ships attracted buyers willing to take a much more substantial risk, as subsidizing their respective vessel/s for a longer period of time appeared to be a greater possibility compared to what it would be having bought a smaller vessel that was usually preferred by investors taking a more modest approach.
Clearly the scale tips towards the geared ships when it comes to total sales. But we can see that when the BDI was at its lowest level there was a lot more activity in the Capesize segment compared to the months that the BDI started correcting upwards. At the same time Supramaxes remained popular throughout all these months and demand for Handysize vessels was also more or less steady. It is interesting to see that Panamax/Kamsarmax sale candidates started seeing a rise in interest during March and April, about the same time the dry bulk index started to rise.
So what can we make out of this? Even though assumptions are often proven wrong in this market, one could say that buyers seem willing to bet big when they believe that the absolute market bottom has been reached and that psychology is at its worse. The steady preference on smaller ships like Supramaxes and Handies could also be perceived as a sign that buyers expect these to be the first ships to enjoy an improved market. The sudden increase in Panamax/Kamsarmax purchases right after the BDI started to rise could be interpreted as a rush to acquire tonnage before asset values move up.
Let’s see how the summer months progress and how investors will react during the remainder of 2016, a year that admittedly kicked off with the worse possible signs.
By Timos Papadimitriou
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 reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Monday, 27 June 16
THE BDI UP 3.75 PERCENT ; BCI FELL 1.51% WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.75 percent from las ...
Monday, 27 June 16
INDONESIA BANS (AGAIN) SHIPS SAILING TO THE PHILIPPINES FROM INDONESIA
COALspot.com: The Indonesian Transport Ministry strictly prohibited harbour masters issuing permits to all Indonesian-flagged vessels bound for the ...
Friday, 24 June 16
U.S WEEKLY COAL PRODUCTION UP MARGINALLY
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.4 million short tons ...
Wednesday, 22 June 16
SMALL RISE IN SHIPPING CONFIDENCE - MOORE STEPHENS
In May 2016, the average confidence level expressed by respondents in the markets in which they operate was 5.1 on a scale of 1 (low) to 10 (high). ...
Wednesday, 22 June 16
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Stagnation- With the BDI stuck in the low 600 points for almost a month now, if we had to choose a word to describe the state of the Dry Bulk freig ...
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- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Planning Commission, India
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Australian Coal Association
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
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