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