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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, 24 May 16
WEEKLY CS COAL INDICES NEGATIVE FOR ALL TYPES OF COAL EXCEPT 3800 GAR COAL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was down 0.10 percent week over week to averaging $38.90 per ton this past week, sho ...
Monday, 23 May 16
A PERFECT STORM FOR INDONESIAN STEAM COAL EXPORTS - CLARKSON RESEARCH
Indonesia is the world’s leading steam coal exporter, accounting for over 40% of global seaborne steam coal exports since 2010. However in 20 ...
Monday, 23 May 16
THE PANAMAX INDEX WAS UP 17 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this week.
The freight market was firm and all ...
Friday, 20 May 16
SHIPBUILDING CONTRACTS: CAN I CANCEL? SHOULD I CANCEL? - THE SHIPOWNER CLUB
KNOWLEDGE TO ELEVATE
There are many circumstances in which a buyer of a new-build vessel might want to terminate or cancel their contract with ...
Friday, 20 May 16
U.S COAL PRODUCTION FOR THE WEEK ENDED 14 MAY TOTALED 11.4 MMST; UP 3.8% W/W
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.4 million short tons (mm ...
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Showing 2421 to 2425 news of total 6871 |
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- Eastern Coal Council - USA
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- The University of Queensland
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
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