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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, 20 June 16
CS COAL INDICES CONTINUE UPWARD TREND SINCE END APRIL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up again by 0.05 percent week over week to averaging $39.39 per ton this past we ...
Monday, 20 June 16
THE BDI HAS FELL 23 POINTS WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities declined this past week. The BDI was fell 3.77 percent fr ...
Friday, 17 June 16
CHINA'S NEW POLICY TO REDUCE WASTE IN RENEWABLE ENERGY - FITCH
Chinese renewable energy producers are likely to benefit from a new policy that guarantees a minimum amount of solar and wind power is purchased in ...
Friday, 17 June 16
KOMIPO INVITES BIDS FOR BITUMINOUS COAL FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
Friday, 17 June 16
U.S WEEKLY COAL PRODUCTION UP 7.7% - EIA
COALspot.com – U.S., the world’s one of the largest coal producer has produced approximately totalled an estimated 12.9 million short t ...
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- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Economic Council, Georgia
- The University of Queensland
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Parliament of New Zealand
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- White Energy Company Limited
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Planning Commission, India
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
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