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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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Tuesday, 07 June 16
CS COAL INDEX ROSE FOR SECOND STRAIGHT WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.38 percent week over week to averaging $39.16 per ton this past week, shows ...
Monday, 06 June 16
BDI GAINED ON A STRONGER DEMAND FOR CAPESIZE SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week on a stronger demand for Capesize ves ...
Friday, 03 June 16
DRY BULK VESSEL DELIVERIES COULD BE LESS THAN 50 MILLION DWT IN 2016, AS OWNERS DELAY OR CANCEL NEWBUILDING ORDERS
The dry bulk market has been caught between a rock and a hard place over the course of the past couple of years, as on one hand demand has plunged, ...
Friday, 03 June 16
U.S WEEKLY COAL PRODUCTION SLIDES 1.3% - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.5 million short tons (mm ...
Wednesday, 01 June 16
INDIA'S COAL IMPORTS IN APRIL 2016 DECLINED 15% Y/Y; COAL INDIA INCREASED COAL PRICES BY 6.2%
Coal India has approved raising weighted average coal prices by 6.2 per cent over the current price for both regulated and non-regulated sectors.
...
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- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- The University of Queensland
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
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