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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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Friday, 27 May 16
PET-COKE IMPORTS TO FACE PRESSURE IN INDIA
COALspot.com: An Indian environmental activist moved the National Green Tribunal seeking ban on the use of all forms of petroleum coke, also called ...
Friday, 27 May 16
US COAL PRODUCTION ROSE 2.9% WOW, ACCORDING TO EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.7 million short tons (mm ...
Thursday, 26 May 16
GIANT ORE CARRIERS SET TO PLAY A BIGGER ROLE IN THE GLOBAL SHIPPING FLEET: CHINA EMBRACES VALEMAXES - RICHARD SCOTT
Another phase of the giant ships era is approaching. Chinese shipowners placed orders recently for 30 huge ‘valemax’ ore carriers. Thes ...
Wednesday, 25 May 16
MEDIATION AS A WAY TO RESOLVE DISPUTES IN THE SHIPPING INDUSTRY - LANA JACOBS
KNOWLEDGE TO ELEVATE
The shipping market is currently experiencing a serious recession with the Baltic Dry Index and Baltic Capesize Index bot ...
Wednesday, 25 May 16
DRY BULK SNP MARKET DISPLAYS SIGNS OF STRENGTH - GEORGE ILIOPOULOS
Only a couple of weeks away from the world’s most prominent maritime event, the market for tankers displays an evident lack of confidence in ...
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Showing 2416 to 2420 news of total 6871 |
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- Malabar Cements Ltd - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
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